In ____ the East India Company acquired a charter from Queen Elizabeth I.

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Detailed Solution

In 1600 the East India Company acquired a charter from Queen Elizabeth I. The Charter granted the Company exclusive right to trade with the East. Due to this Charter, the British East India Company established trading posts on India's east and west coastlines. As a result, no other English commercial company could compete with the East India Company. Furthermore, with this Charter, the Company could go across the oceans in search of new locations where it could buy products at a low cost and transport them back to Europe, where they could be sold at a more significant profit.

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