Inception
1600, Royal Charter by Queen Elizabeth
- EIC got
- monopoly over Brit trade with East Indies for 15 years
- i.e. if charter not renewed by 15yrs, company dies
- thus, company dependent on Queen. A way to maintain allegiance.
- allowed to carry gold out of England to buy eastern goods
- thus company important for Brit, as gold is important asset
- monopoly over Brit trade with East Indies for 15 years
- goal of EIC: trade with East, counter Dutch trade
- NOT to build empire recurring basis of many decisions
Took some time to actually rise as power. British and Dutch and eventually EIC Advent In India