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East India Company

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East India Company

The East India Company (EIC) was an English, and later British, joint-stock company that was founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (which included the Indian subcontinent and Southeast Asia), and later with East Asia. The company gained control of large parts of the Indian subcontinent and Hong Kong. At its peak, the company was the largest corporation in the world by various measures and had its own armed forces in the form of the company's three presidency armies, totalling about 260,000 soldiers, twice the size of the British Army at certain times. Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies," the company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, saltpetre, tea, gemstones, and later opium. The company also initiated the beginnings of the British Raj in the Indian subcontinent. The company eventually came to rule large areas of the Indian subcontinent, exercising military power and assuming administrative functions. Company-ruled areas in the region gradually expanded after the Battle of Plassey in 1757 and by 1858 most of modern India, Pakistan and Bangladesh was either ruled by the company or princely states closely tied to the company by treaties. Following the Sepoy Rebellion of 1857, the Government of India Act 1858 led to the British Crown assuming direct control of present-day Bangladesh, India, Pakistan, and Myanmar in the form of the new British Indian Empire. The company subsequently experienced recurring problems with its finances, despite frequent government intervention. The company was dissolved in 1874 under the terms of the East India Stock Dividend Redemption Act enacted one year earlier, as the Government of India Act had by then rendered it vestigial, powerless, and obsolete. The official government machinery of the British Empire had assumed its governmental functions and absorbed its armies.

Infobox

Company type
PublicPartially state-owned enterpriseState-owned enterprise (after Government of India Act 1858)
Industry
International trade
Founded
31 December 1600; 424 years ago (1600-12-31)
Founders
mw- William Cavendish George Clifford John Harte James Lancaster John Spencer John Watts (et al.)
Defunct
1 June 1874; 151 years ago (1874-06-01)
Fate
Nationalised: Territories and responsibilities ceded to the British Government by the Government of India Act 1858Dissolved by the East India Stock Dividend Redemption Act 1873
Headquarters
East India House, London, Great Britain
Key people
Thomas Smythe1st Governor
Products
Cotton, silk, indigo dye, sugar, salt, spices, slaves, saltpetre, tea, and opium
Number of employees
50,000 (1710s)

Tables

East India Company Initial expeditions[33] · History › Early voyages to the East Indies
1603
1603
Year
1603
Vessels
3
Total Invested £
60,450
Bullion sent £
11,160
Goods sent £
1,142
Ships & Provisions £
48,140
1606
1606
Year
1606
Vessels
3
Total Invested £
58,500
Bullion sent £
17,600
Goods sent £
7,280
Ships & Provisions £
28,620
1607
1607
Year
1607
Vessels
2
Total Invested £
38,000
Bullion sent £
15,000
Goods sent £
3,400
Ships & Provisions £
14,600
Notes
Vessels lost
1608
1608
Year
1608
Vessels
1
Total Invested £
13,700
Bullion sent £
6,000
Goods sent £
1,700
Ships & Provisions £
6,000
1609
1609
Year
1609
Vessels
3
Total Invested £
82,000
Bullion sent £
28,500
Goods sent £
21,300
Ships & Provisions £
32,000
1610
1610
Year
1610
Vessels
4
Total Invested £
71,581
Bullion sent £
19,200
Goods sent £
10,081
Ships & Provisions £
42,500
1611
1611
Year
1611
Vessels
4
Total Invested £
76,355
Bullion sent £
17,675
Goods sent £
10,000
Ships & Provisions £
48,700
1612
1612
Year
1612
Vessels
1
Total Invested £
7,200
Bullion sent £
1,250
Goods sent £
650
Ships & Provisions £
5,300
1613
1613
Year
1613
Vessels
8
Total Invested £
272,544
Bullion sent £
18,810
Goods sent £
12,446
1614
1614
Year
1614
Vessels
8
Total Invested £
13,942
Bullion sent £
23,000
1615
1615
Year
1615
Vessels
6
Total Invested £
26,660
Bullion sent £
26,065
1616
1616
Year
1616
Vessels
7
Total Invested £
52,087
Bullion sent £
16,506
Year
Vessels
Total Invested £
Bullion sent £
Goods sent £
Ships & Provisions £
Notes
1603
3
60,450
11,160
1,142
48,140
1606
3
58,500
17,600
7,280
28,620
1607
2
38,000
15,000
3,400
14,600
Vessels lost
1608
1
13,700
6,000
1,700
6,000
1609
3
82,000
28,500
21,300
32,000
1610
4
71,581
19,200
10,081
42,500
1611
4
76,355
17,675
10,000
48,700
1612
1
7,200
1,250
650
5,300
1613
8
272,544
18,810
12,446
1614
8
13,942
23,000
1615
6
26,660
26,065
1616
7
52,087
16,506
Indian exports of textiles to Europe (pieces per year)[50] · History › Early voyages to the East Indies › Expansion throughout Asia
Bengal
Bengal
Years
Bengal
EIC
Madras
EIC
Bombay
EIC
Surat
EIC
EIC (total)
EIC
VOC (total)
1665–1669
1665–1669
Years
1665–1669
EIC
7,041
EIC
37,078
EIC
95,558
EIC
139,677
VOC
126,572
Total
266,249
1670–1674
1670–1674
Years
1670–1674
EIC
46,510
EIC
169,052
EIC
294,959
EIC
510,521
VOC
257,918
Total
768,439
1675–1679
1675–1679
Years
1675–1679
EIC
66,764
EIC
193,303
EIC
309,480
EIC
569,547
VOC
127,459
Total
697,006
1680–1684
1680–1684
Years
1680–1684
EIC
107,669
EIC
408,032
EIC
452,083
EIC
967,784
VOC
283,456
Total
1,251,240
1685–1689
1685–1689
Years
1685–1689
EIC
169,595
EIC
244,065
EIC
200,766
EIC
614,426
VOC
316,167
Total
930,593
1690–1694
1690–1694
Years
1690–1694
EIC
59,390
EIC
23,011
EIC
89,486
EIC
171,887
VOC
156,891
Total
328,778
1695–1699
1695–1699
Years
1695–1699
EIC
130,910
EIC
107,909
EIC
148,704
EIC
387,523
VOC
364,613
Total
752,136
1700–1704
1700–1704
Years
1700–1704
EIC
197,012
EIC
104,939
EIC
296,027
EIC
597,978
VOC
310,611
Total
908,589
1705–1709
1705–1709
Years
1705–1709
EIC
70,594
EIC
99,038
EIC
34,382
EIC
204,014
VOC
294,886
Total
498,900
1710–1714
1710–1714
Years
1710–1714
EIC
260,318
EIC
150,042
EIC
164,742
EIC
575,102
VOC
372,601
Total
947,703
1715–1719
1715–1719
Years
1715–1719
EIC
251,585
EIC
20,049
EIC
582,108
EIC
534,188
VOC
435,923
Total
970,111
1720–1724
1720–1724
Years
1720–1724
EIC
341,925
EIC
269,653
EIC
184,715
EIC
796,293
VOC
475,752
Total
1,272,045
1725–1729
1725–1729
Years
1725–1729
EIC
558,850
EIC
142,500
EIC
119,962
EIC
821,312
VOC
399,477
Total
1,220,789
1730–1734
1730–1734
Years
1730–1734
EIC
583,707
EIC
86,606
EIC
57,503
EIC
727,816
VOC
241,070
Total
968,886
1735–1739
1735–1739
Years
1735–1739
EIC
580,458
EIC
137,233
EIC
66,981
EIC
784,672
VOC
315,543
Total
1,100,215
1740–1744
1740–1744
Years
1740–1744
EIC
619,309
EIC
98,252
EIC
295,139
EIC
812,700
VOC
288,050
Total
1,100,750
1745–1749
1745–1749
Years
1745–1749
EIC
479,593
EIC
144,553
EIC
60,042
EIC
684,188
VOC
262,261
Total
946,449
1750–1754
1750–1754
Years
1750–1754
EIC
406,706
EIC
169,892
EIC
55,576
EIC
632,174
VOC
532,865
Total
1,165,039
1755–1759
1755–1759
Years
1755–1759
EIC
307,776
EIC
106,646
EIC
55,770
EIC
470,192
VOC
321,251
Total
791,443
Years
EIC
VOC
France
EdI
Denmark
Total
Bengal
Madras
Bombay
Surat
EIC (total)
VOC (total)
1665–1669
7,041
37,078
95,558
139,677
126,572
266,249
1670–1674
46,510
169,052
294,959
510,521
257,918
768,439
1675–1679
66,764
193,303
309,480
569,547
127,459
697,006
1680–1684
107,669
408,032
452,083
967,784
283,456
1,251,240
1685–1689
169,595
244,065
200,766
614,426
316,167
930,593
1690–1694
59,390
23,011
89,486
171,887
156,891
328,778
1695–1699
130,910
107,909
148,704
387,523
364,613
752,136
1700–1704
197,012
104,939
296,027
597,978
310,611
908,589
1705–1709
70,594
99,038
34,382
204,014
294,886
498,900
1710–1714
260,318
150,042
164,742
575,102
372,601
947,703
1715–1719
251,585
20,049
582,108
534,188
435,923
970,111
1720–1724
341,925
269,653
184,715
796,293
475,752
1,272,045
1725–1729
558,850
142,500
119,962
821,312
399,477
1,220,789
1730–1734
583,707
86,606
57,503
727,816
241,070
968,886
1735–1739
580,458
137,233
66,981
784,672
315,543
1,100,215
1740–1744
619,309
98,252
295,139
812,700
288,050
1,100,750
1745–1749
479,593
144,553
60,042
684,188
262,261
946,449
1750–1754
406,706
169,892
55,576
632,174
532,865
1,165,039
1755–1759
307,776
106,646
55,770
470,192
321,251
791,443

References

  1. Also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Compan
  2. This is the citation in The Statutes of the Realm.
  3. This is the citation in The Statutes at Large.
  4. Start of session.
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