The Swing to the East (i.e. India) in British Imperial Priorities from 1760 onwards

The Swing to the East (i.e. India) in British Imperial Priorities from 1760 onwards

Introduction

The East India Company (EIC) was undoubtedly the most influential and the powerful trade companies. It was EIC that marked the foundation of the British rule in South Asia and started a new history of imperialism and trade links between Asia and Britain. It was 1582 when the first British pilot came to this place, and it was almost a century after the Portuguese tourist, Vasco da Gama, made his journey.

The enormous wealth in the Indian region was the biggest attraction for the British people. The ships were loaded with the wealth on the way back to their home destinations. A Portuguese ship was captured at the British port in 1593 and the wealth, and size of the ship took the British people by surprise.

It was 1600 when royal charter was created to form EIC, which granted permission to all British companies to trade in all the British colonies. With the increasing growth of the company, it became the largest employer in London with its dockyards on the bank of Thames River. Finally, in 1707, it became the single most successful business in Britain. It was believed that first ships made the profit of more than 133 percent. Initially, seventy nine ships were sent to India, and when they came back home country, they were laden with enormous wealth. However, few of them got lost because of shipwreck or looted by Dutch pirates.

In spite of the long sea route the EIC had to make in reaching India, it did not have any effect on the profit they made by the trips. The cost of the trip was far less than the huge profit trade was incurring. With this, the EIC had full control over the British market. They could make the policies in their favor as they had legally authorized dominating place in England.

Trade

From the very first day of its existence to the date EIC was abolished, the company had an immense success in terms of its expansion and sustainability. The company not only contributed to the trade and economy of the area but it also worked for the overall wellbeing of its people and had been involved in various cultural works. EIC's advances in Asia had reached a point where the company began to take part in the political and administrative activities of the area. Slowly and gradually the British trader overshadowed the Portuguese influence and expanded their trade operations in India. A number of factories were developed and trading posts were established on the east and west coast of India. Eventually, the British communities were successfully developed in the three main cities of India which included Madras, Bombay and Calcutta.

David Macpherson said that, by the start of the nineteenth century, the EIC had become the most brilliant and the progressing business not only in the Asia but also in ...