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British East India Company

Definition

The British East India Company was a trading company formed for the purpose of establishing trade routes and conducting business in the Indian subcontinent during the 17th to 19th centuries. It eventually gained political control over large parts of India, becoming a major force in shaping colonial rule.

Analogy

Think of the British East India Company as a powerful corporation that not only traded goods but also had significant influence and control over the regions where it operated. It's like a multinational company today that not only sells products but also has a say in local politics.

Related terms

Colonialism: The practice of one nation extending its dominance over another territory, often involving economic exploitation and political control.

Imperialism: The policy or practice by which a country extends its power and influence through diplomacy or military force.

Mercantilism: An economic theory prevalent during the colonial era, emphasizing national wealth through trade and accumulation of precious metals.