The East India Company was initially created in 1600 to serve as a trading body for English merchants, specifically to participate in the East Indian spice trade. It later added such items as cotton, silk, indigo, saltpeter, tea, and opium to its wares and also participated in the slave trade.
What was the objective of EIC?
Originally Answered: What is the primary aim of the East India Company? To loot all goods, spices and antiques from India and eventually help Britain to rule the Indian Territory.
What are the objectives of the East India Company to permanently rule in India?
Answer: The two objectives of East India Company to permanently rule in India was trade and ambition for political power.
What was the prime objective of East India Company in short?
The original aim of the East India Company was to trade. The company was chartered by Queen Elizabeth I for trade with Asia. The original object of the group of merchants involved was to break the Dutch monopoly of the spice trade with the East Indies.
What was the objective in establishing Indian House?
The aim of the IHRS, clearly articulated in this constitution, was to “secure Home Rule for India, and to carry on a genuine Indian propaganda in this country by all practicable means“.
What are the two objectives of British rule in India?
The basic purpose of the British colonial rule over India was to compliment and serve the industrialisation process in Britain. In this regard, the sole aim of the colonial government was to reduce India to a mere supplier of the raw materials for the betterment and advancement of their home country.
When and where was the first trade Centre in India?
On 31 December 1600 A.D. at the Surat port in India was the first trade centre of English established.
How did the assumption of Diwani benefit the East India Company?
How did the assumption of Diwani benefit the East India Company? Solution: The Diwani allowed the Company to use the vast revenue resources of Bengal. After the assumption of Diwani, gold was not imported from Britain and revenues from India were enough to finance Company expenses.
What was the Charter of East India Company?
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.