Through this post today, I am going to tell you about East India Company’s trade in Bengal, if you want to know about the business done by East India Company’s in Bengal, then read this post carefully, let’s start. …
East India Company’s trade in Bengal
The first English factory was established in 1651 on the banks of the Hooghly River. This was the basis from which the company’s merchants, known at the time as “factors”, operated.
The factory had a warehouse where goods for export were stored, and it contained offices where company officials sat. As trade expanded, the Company persuaded merchants and merchants to come and settle near the factory. By 1696 it started building a fort around the settlement. Two years later it bribed Mughal officials to give the Company zamindari rights over three villages. One of these was Kalikata, which later developed into the city of Calcutta or Kolkata as it is known today. It also persuaded the Mughal emperor Aurangzeb to grant a forman the right of free trade to the company.
The Company continually tried to press for more concessions and to manipulate Aurangzeb’s decrees for existing privileges that, for example, only gave the Company the right to trade free trade. But company officials, who were in private business or in favor, were expected to pay the fee. This he refused to pay, causing huge loss of revenue for Bengal, how could the Nawab of Bengal, Murshid Quli Khan not protest?
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