East India Company, also known as British India Company or English India Company, was found on December 31, 1600, mainly for the exploitation of trade with India and other parts of Asia. The company was founded by John Watts. The company became highly involved in politics, forcefully extending British authorities in India.
This company was very powerful, and it had a long time effect on India and other Asian nations. In 1623, the East India Company had opposition from the Dutch; this led to the execution of many Portuguese, English, and Japanese traders. The company lost its political control and commercial authority in the early 1800s, and the company ceased operations on June 1, 1874.
East India Company used to be a company that was also called Honourable East India Company. This company was formed in order to facilitate the trade of the following countries: India, Southeast Asia, and the East. This was started as a monopolistic trading body. Its primary purpose at that time is to ensure that England will also have the ability to start trading their goods with other countries. At that time, trading was considered to be something new.
Different countries began to realize that each country will have something unique to offer. By trading, they would start to have access to items that their country does not have. The company may not be around anymore, but trading still happens all over the world.