East India Co

Sectors:

  • Merchanting & trade, international & inland International trading inc chartered companies activities
  • Financial services Private loan financing inc individuals & businesses
  • Transport equipment production Shipbuilding & repairing exc small craft
  • Transport services Shipping services - long distance, inc ship ownership & management

Notes:

Established by royal charter in 1600 when known as Governor & Company of Merchants of London Trading to the East Indies. Comprised leading London merchants many associated with the Levant Co. Received monopoly privileges over all overseas trade with the 'East Indies', defined as east of the Cape of Good Hope and West of Cape Horn. Supposedly the greatest trading business the world has ever known, it played a vital role in Britain's rise to commercial prominence. Its first voyage, of four ships, set out in 1601 and returned in 1603. 1615 given right to export silver bullion to the East. 1623 given right to rule of law over all English persons residing in the East. Reorganised in 1657 when a permanent share capital was established. By late 17th century its original trade in spices was diversifying into luxury goods such as printed textiles inc silks, tea, coffee, ceramics, etc, provoking a consumption stimulus for luxuries at home which was to percolate through to domestic production. Also made loans to the Crown. In mid 18th century assumed political control of lands in India which initiated entanglement with the British State. Monopoly trading privileges with India cancelled in 1813 and with China in 1833 when trade to the East became fully free for British citizens. Increasingly emerged as an administrator of colonial lands until 1858 when these were transferred to the British Raj

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