Discussion
Which of the following statements about British East India Company are true ?
A. It was formed in 1599 by a group of merchants known as The Merchant Adventurers.
B. It was granted a charter by Queen Elizabeth in 1600 giving monopoly of eastern trade for an indefinite period.
C. It decided to open a factory at Surat in 1608.
D. Company's monopoly of trade was abolished by James I in 1609.
Choose the correct answer from the options given below :
Answer: C
Statements A and C are true, so the answer is A and C only.
As textbooks describe it, the company was formed in 1599 by merchants known as the Merchant Adventurers (A), and in 1608 it decided to open a factory at Surat on the west coast of India (C).
Queen Elizabeth's charter of 31 December 1600 gave the company a monopoly of eastern trade for fifteen years, not for an indefinite period, so B is wrong. In 1609 James I renewed the charter for an indefinite period rather than abolishing the monopoly, so D is wrong.
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