Define: East India Company

The East India Company was initially established for trading purposes between England and India. However, over time, it became more focused on political affairs rather than trade. Eventually, in 1858, the government of India assumed control over the company’s territories, leading to its dissolution in 1874.

The East India Company, established in the 17th century, was a British trading company that held a monopoly on trade with India and other parts of Asia. However, as time went on, the company became increasingly involved in political affairs rather than commerce. It even formed its own army and gained control over large portions of India, ultimately becoming a major political force in the region. In 1858, the British government passed the Government of India Act, which transferred control of the company’s territories to the British Crown. Consequently, the company was dissolved in 1874. The East India Company’s impact on India was profound, as it played a crucial role in establishing British rule and exerted significant influence over the country’s political and economic development. Additionally, the company’s involvement in the opium trade with China resulted in the Opium Wars between Britain and China in the 19th century. These instances demonstrate that the East India Company was more than just a trading entity; it had far-reaching consequences on the regions it operated in, leaving a lasting imprint on their political and economic landscapes.

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This glossary post was last updated: 17th April 2024.