Questions and Answers
Which European power was the first to establish trading bases in India?
Portugal
Why were early European merchants unable to compete with the English East India Company?
Queen Elizabeth I granted it a unique charter.
What was the main reason for intense rivalry between European trading companies in India?
They all desired a greater share of trade profits.
What were the primary commodities traded by European companies in India?
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Why were the trading centres established by European companies in India known as 'factories'?
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Which of the following strategies did European trading companies use to increase their profits?
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Which monarch gave the English East India Company the exclusive right to trade with the east?
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What was a key factor that led to the shrinking profits of European companies in the Indian trade?
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Study Notes
The Expansion of British Power
- India was an important trading center from ancient times, attracting merchants and traders from Europe and Asia.
- The Indian rulers supported trade as it was profitable for them, and trade increased in frequency during the medieval period.
Arrival of Trading Companies
- European countries, including Portugal, Holland, England, France, and Denmark, formed trading companies to trade with the East.
- The English East India Company was established by a group of merchants in 1600 and granted a charter by Queen Elizabeth I, giving it exclusive trading rights with the East.
- Trading companies set up their bases in India, establishing "factories" in coastal areas, which consisted of offices, godowns, and residential quarters.
- Some factories were fortified over time.
Factors Influencing Trading Centers
- Companies preferred the coast to set up their trading centers for strategic reasons.
- Key trading centers were established in places such as:
- English: (list specific locations from the map)
- French: (list specific locations from the map)
- Portuguese: (list specific locations from the map)
- Dutch: (list specific locations from the map)
- Danes: (list specific locations from the map)
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