Question

How did the British East India Company become so powerful and wealthy?

Answer 1

Because it had monopoly over trade.

Explanation:

• The British East India Company was the most powerful corporation the world had ever seen.
• Founded in 1600, the power of this company stretched from Cape Horn in the south of South America all the way to China.
• The British East India Company was a joint stock company, which was granted trade rights with India under the Royal Charter of 1600.
• The company transformed from a trading company into a company, which ruled India by taking over military and ruling functions, until its dissolution in 1858.
• The British East India Company obtained trade rights from the Mughal emperors in 1617. One hundred years later, she was granted the right not to pay customs duties in Bengal, thereby gaining a huge advantage in Indian trade.

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