Question
Download Solution PDFThis Act broke the trade monopoly of the East India Company and opened Indian Trade to all British Merchants :
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is - Charter Act, 1813
Key Points
- Charter Act, 1813
- The Charter Act of 1813 ended the trade monopoly of the East India Company, except in tea trade and trade with China.
- This Act allowed all British merchants to participate in Indian trade, marking the beginning of free trade in India under British rule.
- It was a significant step towards establishing a capitalist market system in India.
- The Act also allocated funds for promoting education and spreading Christianity in India.
Additional Information
- Regulating Act, 1793
- This Act extended the powers and privileges of the East India Company for another 20 years.
- It did not make changes to the Company's trade monopoly.
- Pitt's India Act, 1784
- Focused on restructuring governance and establishing better control over the East India Company by the British Crown.
- It had no direct impact on the Company's trade monopoly.
- Charter Act, 1815
- This Act was not significant in terms of trade policy and did not address the monopoly issues.
Last updated on Jun 26, 2025
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