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Q.

When did the East India Company acquire the charter from Queen Elizabeth I, granting it the sole right to trade with the East?


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a

1597

b

1598

c

1599

d

1600 

answer is D.

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Detailed Solution

In 1600, the East India Company acquired the charter from Queen Elizabeth I, granting it the sole right to trade with the East.
This implied that any other English trade organisation could not challenge the East India Company. With this charter, the Company was free to explore the oceans in search of new countries where it could purchase products at a reduced price and transport them back to Europe, where they could be sold for more money. As a result, other English trading companies were not a threat to the Company's business.
 
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When did the East India Company acquire the charter from Queen Elizabeth I, granting it the sole right to trade with the East?