Which one of the following is one of the prominent problems faced by the British East India Company?

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Crisis of labour

Shortage of raw materials

Competition with other European countries

All of the above.

answer is C.

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Detailed Solution

Competition with other European countries is one of the prominent problems faced by the British East India Company. The British East India Company established its first factory in India in 1613. But during the initial days, the British East India Company faced a few restraints and some of them are: The company faced a lot of competition from other European companies. In the initial stages, the company faced the issue of high surge prices of raw materials. The company established their textile factories in India. They also witnessed a crisis in the supply of cotton and silk.

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