Quick Answer: When did the company lost its monopoly on Indian trade?

The company’s commercial monopoly was broken in 1813, and from 1834 it was merely a managing agency for the British government of India. It lost that role after the Indian Mutiny (1857). In 1873 it ceased to exist as a legal entity. Read more about the Indian Mutiny that hastened the end of the East India Company.

Which article or is the company’s monopoly on Indian trade terminated?

Detailed Solution. Option 4 is correct, i.e. The Charter Act of 1813. The Charter Act of 1813 ended the commercial trade monopoly of the East India Company except for trade in tea and trade with China.

Who had a monopoly on trade with India?

In 1600, a group of English businessmen asked Elizabeth I for a royal charter that would let them voyage to the East Indies on behalf of the crown in exchange for a monopoly on trade. The merchants put up nearly 70,000 pounds of their own money to finance the venture, and the East India Company was born.

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What is monopoly of East India Company?

The new English East India Company was a monopoly in the sense that no other British subjects could legally trade in that territory, but it faced stiff competition from the Spanish and Portuguese, who already had trading outposts in India, and also the Dutch East Indies Company, founded in 1602.

When did East India Company came to an end?

End of Company rule

The Company lost all its administrative powers following the Government of India Act of 1858, and its Indian possessions and armed forces were taken over by the Crown.

Which one of the following abolished the monopoly of the company?

1) The Charter Act, 1853 abolished East India Company’s monopoly of Indian trade.

How did East India Company established its monopoly over Indian trade?

Charter Act of 1793: It gave the East India Company a monopoly to trade with East only for a period of 20 years.

When did the British go to India?

The British landed in India in Surat on August 24, 1608. While India has a rich and recorded history going back 4000 years to the Indus Valley Civilisation in Harappa and Mohenjo-Daro, Britain had no indigenous written language until the 9th century almost 3000 years after India.

Which of these countries traded with India about 500 years ago?

Explanation: Vasco da Gama founded India and started trading with us and he is a person of portugal.

How did the East India Company took over India?

Company rule in India effectively began in 1757 after the Battle of Plassey and lasted until 1858 when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown assuming direct control of India in the form of the new British Raj.

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When did the East India Company lost its monopoly of China trade?

The correct answer is 1833. In 1833, the jealously-protected monopoly of the East India Company was finally abolished and the China trade was opened.

When did East India Company started in India?

The East India Company was incorporated by royal charter on December 31, 1600. It was an English company formed for the exploitation of trade with East and Southeast Asia and India.

Who ruled India before British?

The Mughal Empire

The Mughals ruled over a population in India that was two-thirds Hindu, and the earlier spiritual teachings of the Vedic tradition remained influential in Indian values and philosophy.

What happened to the East India Company?

The Indian Rebellion was to be the end of the East India Company. In the wake of this bloody uprising, the British government effectively abolished the Company in 1858. All of its administrative and taxing powers, along with its possessions and armed forces, were taken over by the Crown.

Who is the owner of East India Company?

Sanjiv Mehta (born October 1961) is an India-born British businessman. He is the owner of “The East India Company”, which he launched in 2010, presenting it as a revival of the historic East India Company that was dissolved on 1 June 1874.

Why was the East India Company abolished?

Partly because of endemic corruption, the company was gradually deprived of its commercial monopoly and political control, and its Indian possessions were nationalized by the British crown in 1858. It was formally dissolved in 1874 by the East India Stock Dividend Redemption Act (1873).

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