British East India Company
British East India Company
The British East India Company (pronunciation: /ˈbrɪtɪʃ iːst ˈɪndiə kʌmpəni/), also known as the East India Trading Company or the English East India Company, was an English joint-stock company formed for pursuing trade with the East Indies but ended up trading mainly with the Indian subcontinent and Qing China.
Etymology
The term "British East India Company" is derived from the company's original charter in 1600, which granted it a monopoly on English trade with the East Indies. The "East Indies" was a term used by European traders to refer to the Indian subcontinent and Southeast Asia, which were rich sources of spices, silk, tea, and other valuable goods.
History
The British East India Company was established by royal charter on December 31, 1600, by Queen Elizabeth I for a term of 15 years. The company was granted a monopoly on trade with all countries east of the Cape of Good Hope and west of the Strait of Magellan.
Related Terms
- Joint-stock company
- East Indies
- Indian subcontinent
- Qing China
- Royal charter
- Queen Elizabeth I
- Cape of Good Hope
- Strait of Magellan
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