Explore the historical significance of Queen Elizabeth I's charter for the English East India Company, its early progress in India, and the formation of its commercial empire in the 17th century. Learn about key events and figures such as Farukhsiyar’s farman and the company’s foothold in Bengal.
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The English
The English Overview
Francis Drake’s voyage around the world in 1580 and the English victory over the Spanish Armada in 1588 generated a new sense of enterprise in the British.
As knowledge grew of the high profits earned by the Portuguese in Eastern trade, English traders wanted a share.
In 1599, a group of English merchants formed a company called the ‘Merchant Adventurers’. On December 31, 1600, Queen Elizabeth I issued a charter granting exclusive trading rights to the company named the ‘Governor and Company of Merchants of London trading into the East Indies’.
Progress of the English Company
Captain Hawkins arrived in the court of Jahangir in 1609 but failed to establish a factory at Surat due to Portuguese opposition.
In 1611, the English started trading at Masulipatnam and established a factory there in 1616.
In 1612, Captain Thomas Best defeated the Portuguese and secured permission to establish a factory at Surat under Thomas Aldworth.
In 1615, Sir Thomas Roe arrived as an ambassador to Jahangir, obtaining several privileges, including permission to set up factories at Agra, Ahmedabad, and Broach.
Bombay was gifted to King Charles II by the King of Portugal in 1662 and transferred to the East India Company in 1668.
The Company’s position improved with the ‘Golden Farman’ from the Sultan of Golconda in 1632 and further expansion to Madras, Hariharpur, and Balasore.
Foothold in Bengal
Shah Shuja allowed the English to trade in Bengal in 1651 for an annual payment of Rs 3,000.
Factories were established at Hooghly, Kasimbazar, Patna, and Rajmahal.
William Hedges’ appeal to Shaista Khan in 1682 was unsuccessful, leading to hostilities and the sacking of Hooghly in 1686.
Job Charnock negotiated with the Mughals to return to Sutanuti in 1690, and an imperial farman was issued in 1691 permitting the English to continue trade in Bengal.
In 1700, the English fortified their settlement at Sutanuti, naming it Fort William, which became the headquarters of the eastern presidency (Calcutta).
Farrukhsiyar’s Farmans
In 1715, John Surman’s mission to Farrukhsiyar resulted in three significant farmans granting the Company valuable privileges in Bengal, Gujarat, and Hyderabad.
The farmans allowed the Company to trade freely with exemption from additional duties except for the annual payment of Rs 3,000.
They also permitted the Company to issue dastaks (passes) and rent more lands around Calcutta.
The farmans confirmed the Company's right to mint coins in Bombay and extended its privileges in Surat and Hyderabad.
Formative Years of the East India Company
1600: The East India Company is established.
1609: William Hawkins arrives at Jahangir’s court.
1611: The Company starts trading at Masulipatnam.
1612: Captain Thomas Best defeats the Portuguese and establishes a factory at Surat.
1615: Sir Thomas Roe secures several privileges from Jahangir.
1632: The Company receives the golden farman from the Sultan of Golconda.
1639: The Company secures Madras from a local king.
1651: Permission to trade at Hooghly in Bengal.
1662: Bombay is gifted to King Charles II as dowry.
1668: Bombay is transferred to the East India Company.
1691: The Company receives the imperial order to continue trade in Bengal.
1717: Farrukhsiyar issues a farman granting numerous trade concessions.
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