You Think of an Amazon, Apple or Google as Powerful? Then probably you didn’t know anything about the East India Company, a powerful business/company so mighty that, once it ruled approximately all parts of the subcontinent of India. Amid 1600 & 1874, it constructed the high-powered, strongest corporation, which the planet had ever known, absolute with its own territory, its own army and around complete hold on the trading of commodities now known as quintessentially British Tea.
At the beginning of the seventeenth centenary, the Indian subcontinent was recognized as the East Indies, and as the home to fabrics, luxury goods and fabrics priced by affluent Europeans, was known as the land of apparently limitless potential. Because of their seafaring skills, Portugal and Spain had held monopoly on the trading in Far East. But the Britain desired in, and when it grabbed the ships of beaten Spanish Armada in the 1588, it led to the route for monarchy to be an ultimate naval command.
In the year of 1600, a batch of English business person requested the Elizabeth I for the sovereign charter that’d let them peregrination to East Indies on the accounts of the British Crown in return for monopoly on the merchandizing. The business persons invested approximately 70,000 pounds from their accounts to sponsor the voyage and the East India Company was created.
The company depended on the factory system, set-off the representatives it known as “factors” beyond, to build trading posts & granting them to negotiate and source for goods. Gratitude to the treaty in 1613 with Mughal emperor Jahangir, it built its initial factory in Surat. Over years, the corporation relocated its focus from pepper and many other spices to silk fabric, calicos and tea and enlarged into China, Persian Gulf and elsewhere in Asian Continent.
The East India Company’s royal charter served it the potential to wage wars, and originally it utilized martial force to defend itself and combat rival merchants. However, In 1757, it captured command over total Mughal state of Bengal. Robert Clive, who headed the company’s army of 3,000 persons, turned to be the Governor of Bengal and started accumulating customs and taxes, which were managed to buy Indian goods &export them to the England. Then, the company constructed on its triumph and drove the Dutch and French out from the Indian subcontinent.
In the subsequent years, the East India company forcefully annexed furthermore provinces of the Indian subcontinent and counterfeit alliances with the rulers of the territorys’, whom they couldn’t annexed. At its peak, it had an infantry of 2,60,000 (double the size of the Britain’s standing infantry) and was accountable for nearly half of the Britain’s trade. The Indian subcontinent was now under the administration of East India Company’s stakeholders, who appointed businessmen-statesmen, yearly, to edict the policy in its territory.
But financial distress and extensive recognization of the company’s misues of the powers, in due course, directed the Britain to put the undeviating control of East India Company. In the year of 1858, after a long time, the Government of Britain eventually ended the Company Rule in India. By 1874, the corporation was just a shell of its erstwhile shelf and was terminated.
By that time, the East India Company had been incorporated in all that from getting China addicted on opium (the Corporation cultivated opium in India and then exported it illegally to China, in return for fancy Chinese products) to the global slavetrade (it organized slaving undertakings, carried slaves and used laborforce entire 17th and 18th centenaries). The East India Company may have been concealed by contemporary capitalism, but its bequest is still perceived worldwide.