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The British East India Company was a joint stock company which was granted an English royal charter by Elizabeth 1 on December 31 1600 with the intention of favoring trade privileges in India.

The royal charter immediately gave the newly created The Honourable Company of Merchants of London Trading into the East Indies (HEIC) a 15 year monopoly on all trade in the East Indies. The Company transformed from a commercial trading venture to one which virtually ruled India as it acquired auxiliary governmental and military functions.

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