European trading companies in india. East India Company 2022-10-26
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The European trading companies in India were a significant factor in the history of the subcontinent, as they played a crucial role in shaping its economy and society. These companies, also known as East India companies, were chartered by European monarchs in the seventeenth and eighteenth centuries to trade with the East, including India. The most famous of these companies was the British East India Company, but there were also Dutch, French, and Portuguese trading companies operating in India.
The European trading companies in India were motivated by the desire to secure a share of the lucrative Indian market, which was renowned for its spices, textiles, and other luxury goods. The companies established trading posts in various parts of India, including Calcutta, Madras, and Bombay, and used these bases to conduct trade with local merchants and rulers. The companies also engaged in naval warfare with each other and with local powers in order to secure trading concessions and protect their interests.
The impact of the European trading companies in India was far-reaching and profound. They brought new technologies, such as the printing press and the steam engine, to India, which helped to modernize the country's economy and society. They also introduced new forms of currency, such as the rupee, which became the standard currency in India.
However, the European trading companies in India also had a darker side. They were often ruthless in their pursuit of profit, and were willing to engage in unethical practices such as bribery, corruption, and exploitation of local labor. They also played a role in the spread of European imperialism in India, as they helped to establish European control over large parts of the subcontinent.
In conclusion, the European trading companies in India were a complex and influential force in the history of the subcontinent. They brought new technologies, forms of currency, and economic opportunities to India, but they also contributed to the spread of imperialism and engaged in unethical practices. Their impact is still felt today in the modern-day economies and societies of India and the rest of South Asia.
The Arrival of Europeans Trade Companies in India
Charters Relating to the East India Company from 1600 to 1761: Reprinted from a Former Collection with Some Additions and a Preface for the Government of Madras. Retrieved 26 June 2020. Pardon was granted but an agreement had to be signed by the English agreeing to pay a compensation of one and half lakhs, to remove John Child from the governorship of Bombay and to return all the vessels seized by the English. For a small country like Portugal it was not possible to send out sufficient number of colonists to India, as such, Albuquerque encouraged his Portuguese followers to marry Indian women and thereby he thought of raising a Portuguese population in India arid a permanent Portuguese settlement. Trade, Plunder, and Settlement: Maritime Enterprise and the Genesis of the British Empire, 1480—1630.
What attracted European Trading Companies to India?
Eventually, the Portuguese and the Dutch also had to leave the field for the French and the English. In 1641 they occupied Malacca and by 1658 conquered all the Portuguese trading centres in Ceylon. Cottoan and silk textiles from India were in great demand in Europe. Dutch Dutch are from Holland or Netherlands. The French had to restore San Thome to the Dutch. Although there were occasional amicable settlements between the English and the Dutch, hostilities were renewed and in 1623 the Dutch massacred ten English men and nine Japanese at Amboyna which marked the climax of the hatred of the Dutch towards the English as well as other trading nations. A large number of Arab merchants used to throng at the port of Calicut at that time and much of the prosperity of the Port of Calicut was due to Arab merchants who carried on trade there.
Important factors which attracted European Trading Companies to India While venturing across oceans, most European trading companies used to seek new lands which could benefit them commercially. It specialised in the spice trade and gave its shareholders 40% annual dividend. In the second half of the sixteenth century, a French merchant ship came to the Portuguese business centre Diu in India. The news of the formation of the English East India Company in 1600 encouraged the Dutch to combine their small commercial organisations into. This put the Surat merchants into great fear of the English and when Capt. Between 1580 and 1640, Portugal was under Spain.
Retrieved 21 August 2018. Their important commercial centres in India were Pulicat, Surat, Negapattam, Cochin, Chinsurah, Cossimbazar, Baranagore, Patna, and Belasore. Two years later 1700 the factories of Bengal were placed under a separate-President and Council, and a fort was constructed and named after King William II of England which became the seat of the newly constituted Council. Two years later 1700 the factories of Bengal were placed under a separate-President and Council, and a fort was constructed and named after King William II of England which became the seat of the newly constituted Council. Indian textile had huge markets in Europe. The farman of 1717 has been called by Robert Orme, the Magna Carta of the East India Company.
Their policy was influenced by two motives, first, to take revenge against the Portuguese who were the allies of Spain, the enemy of the Dutch independence. The East India Company: And the British Empire in the Far East. The Portuguese were also engaged in piratical raids on the merchant ships of other traders. Later they established its factories in Machalipatanam, Chandranagara, Mahe, Karaikallu, Cossimbazar, Balasur. Retrieved 10 February 2014. Which Indian commodities were in great demand in European countries? This was priary thing that attract most Western explorer and European tranding companies to have low coast trade with high profits in India. The Portuguese were naturally rougish and corrupt and carried on depredations on the neighbouring villages, forcibly converted people into Christianity, carried on trade without paying any customs duties and sell the natives as slaves.
What Attracted European Trading Companies to India
The English sacked Hughli and stormed Hijli and the Mughal fortifications at Balasore. Retrieved 29 May 2022. But when Alvarez tried to out the Arab merchants from Calicut it brought him into hostilities with the Zamorin. Emperor Shah Jahan was aware of the notoriety of the Portuguese even before his accession to the throne. Chiang Mai, Cognoscenti Books, 2012.
Marcara succeeded in obtaining a patent from the Sultan of Gol-kunda and set up a second French factory at Masulipatam in 1669. The Dutch merchants first arrived in South East Asia and entered into conflict with the Portuguese there and occupied Amboyna in 1605 in 1619 they under the command of Jan Petersoon Coen conquered Jakarta, and set up the Dutch business centre there. Discovery of Brazil gave them an alternative for setting up colonies there. Mildenhall stayed long seven years in the east but could not achieve anything tangible. The Hindu ruler of Calicut whose title was Zamorin treated the Portuguese mariner in a very friendly way which encouraged them to open up commercial relations with Calicut within two years. Thomas Roe could not conclude any definite commercial treaty with the Emperor, which he had in mind, but succeeded in securing various privileges for the company such as right to erect factories in some other places in India. A few years later Jessuit missionary Fransisco Xavier came to Goa and took the lead in spreading Catholic Christianity in Goa.
Ten committees reported to the Court of Directors. In 1639 Francis Day obtained the lease of Madras from the ruler of Chandragiri and constructed a fortified factory there and named it Fort St. The Malabar pirates also posed a great threat to the English trade. The Dutch Government granted this company not only charter to carry on trade in the East, but also to enter into war and peace, maintain troops, construct forts etc. Answer: The Indian Ocean trade routes connecting Southeast Asia, India, Arabia, and East Africa, began at least the third century BC. The Return of the Armadas: The Last Years of the Elizabethan Wars Against Spain 1595—1603.
European Trading Companies in India with Most Important Point
Charles II, king of England, received Bombay as a part of dowry in his marriage with Catherine of Barganza. All these minor trading nations that came to India lured by the prospect of trade could not stand the competition of the Portuguese, Dutch, English and the French. They left India in 1645. Organizations, Civil Society, and the Roots of Development. In 1684 the French obtained a grant from Nawab Shaista Khan of Bengal and set up a factory in Chandernagore in 1690-92.