Who Were The British East India Company?

The British East India Company was a joint stock company founded by a group of influential businessmen, which was granted a Royal Charter by Elizabeth I in 1600. This charter gave it a monopoly on trade with the Indian subcontinent and its surrounding region for a period of fifteen years.

The company ended up virtually ruling India as it was heavily involved in the creation of the British Raj, and also took on some military functions. The company encouraged the production of tea in India, and also had interests along the route from India to Britain.

The company established the ports of Hong Kong and Singapore, and traded mainly in cotton, silk, indigo, saltpetre, silver and tea. The trade in saltpetre was significant because it was used to make gunpowder. The company was also involved in producing opium in Bengal which was eventually transported to China.

The company was finally dissolved in 1858.