The East India Company
chartered by the British Crown and ultimately responsible to the parliament, launched
the British rule in India. The British East India Company was established under a
Royal Charter of Queen Elizabeth I for 15 years for spice trading on 31st December 1600 AD
with the capital of £70,000. It established its trading station at Machlipatanam in 1611,
Surat in 1612, Madras in 1641 and Calcutta in 1699.
By the middle of the eighteenth century, the company succeeded
in establishing power in Bengal, Bihar, Orissa and the east coast. After the battle of
Plassey, in 1757, they secured permission from the Mughals to collect land revenue from
these provinces in return for an annual tribute for maintaining law and order. The
Company took control of Mysore by defeating Tipu Sultan in 1792 and the Marathas were
finally defeated in 1817 AD - 1819 AD. Further the company expanded its rule by defeating
Nepal in 1814-16, Sind in 1843, Punjab in 1848-49 and Burma in 1886.
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