The British East India Company (EIC) was a private corporation formed in December 1600 to establish spice trade relation🤝 with Asia. Over two decades, it was operated from its Governor’s homeafter its formation.
The company🏢 successfully grew and covered nearly half of the global trade of commodities like cotton, silk, indigo dye, tea, and opium.
The Company’s intentions transformed from a pure trader to that of the ruler👑 and it fought the battles of Plassey and Buxar, and defeated the Bengali powers✊. The company got complete control over Bengal and a military and political power in India.
EIC reached the height of its rule in India by 1803 with an army of 260,000 which was more than twice of the size of British Army💪. EIC rule in India started in 1757 and lasted until 1858. After the 1857 Indian Rebellion, the Government of India Act 1858 led to the new British Raj.
Later in the time, it needed an emergency loan🏦 of £1 million to avoid bankruptcy. The company had several repetitive financial issues due to which it was dissolved in 1874.
East India Company
