In 1599, a consortium of English traders called the 'Merchant Adventurers' established a venture to engage in trade with the East and partake in the lucrative profits similar to those enjoyed by the Portuguese.
- Under Queen Elizabeth I's reign, a royal charter was issued on December 31, 1600, bestowing exclusive trading privileges upon the freshly founded 'Governor and Company of Merchants of London trading into the East Indies.'
- Initially endowed with a monopoly lasting fifteen years, this privilege was subsequently prolonged indefinitely.
Expansion in the West and South
Entrance into Jahangir’s Court: In 1609, Captain Hawkins sought to establish a trading post at Surat, appearing at Jahangir’s court, yet faced Portuguese resistance, resulting in an unsuccessful endeavor.
Commencement of Trade: Nonetheless, English trade commenced at Masulipatnam in 1611, culminating in the establishment of a factory there by 1616.
Clash with Portuguese: In 1612, Captain Thomas Best's victory over the Portuguese in a naval engagement near Surat prompted Jahangir to authorize an English factory in Surat by 1613. Subsequently, a peace agreement with the Portuguese and an Anglo-Dutch pact permitted English trade to proceed unhindered.
Grant of Bombay: Bombay was bestowed upon King Charles II in 1662, subsequently transferred to the East India Company in 1668, and eventually designated as their headquarters in 1687.
Establishment of Madras: Additionally, securing trading rights from the Sultan of Golconda, the English erected a fortified trading post at Madras in 1639, which evolved into the focal point of English settlements in South India.
Establishing Presence in Bengal
Bengal, an affluent and strategically significant province within the Mughal Empire, allured English merchants with its promising trade prospects.
Trade Authorization: In 1651, Shah Shuja, the subahdar of Bengal, granted the English the right to trade in the region, contingent upon an annual tribute.
Fortification Appeal: William Hedges, the inaugural agent and governor of the Company in Bengal, petitioned Shaista Khan, the Mughal governor, for a fortified settlement. However, tensions escalated instead of a resolution.
Sutanuti Settlement: Following the sack of Hooghly by the Mughals in 1686 and subsequent English reprisals, negotiations ensued. Eventually, in 1690, Job Charnock brokered a treaty with the Mughals, permitting the English to establish a factory at Sutanuti.
Fort William Establishment: Securing consent to purchase the zamindari of Sutanuti, Gobindapur, and Kalikata in 1698, the English christened their fortified settlement as Fort William in 1700. It would later evolve into the administrative hub of the eastern presidency, better known as Calcutta.
