HISTORY
MODERN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Portuguese
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Indigenous merchants
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British free merchants
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Dutch
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Detailed explanation-1: -in England, 1600-1813 The Company had a legal monopoly over all trade between England and modern day India and China, but its privileges and property were far from secure. The king and parliament authorized interlopers to enter the Company’s market and forced the Company to make loans to retain its monopoly.
Detailed explanation-2: -The Charter Act 1853 abolished East India Companys monopoly of Indian trade.
Detailed explanation-3: -Charter Act of 1793: It gave the East India Company a monopoly to trade with East only for a period of 20 years. It ended the trade monopoly of East India Company in India. But the company’s monopoly to trade in tea with India and trade with China was kept intact.
Detailed explanation-4: -There were many groups in Britain who were opposed to the monopoly that the East India Company had over trade with India and China. These groups wanted a revocation of the Royal Charter that gave the Company this monopoly. The evidence contained in the Fifth Report is invaluable.