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15 Apr 2011
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Journal 7: the british east india company and. The british east india company: was an early english joint-stock company that was formed initially for pursuing trade with the east indies, but that ended up trading mainly with the indian subcontinent and china. The oldest among several similarly formed european east india. Companies, the company was granted an english royal charter, under the name governor and. Company of merchants of london trading into the east indies, by elizabeth i on 31 december. 1600. the east india company traded mainly in cotton, silk, indigo dye, saltpetre, tea, and opium. The company also came to rule large areas of india, exercising military power and assuming administrative functions, to the exclusion, gradually, of its commercial pursuits; it effectively functioned as a megacorporation. Company rule in india effectively began in 1757 after the battle of plassey. The company long held a privileged position in relation to the british government.

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