Q. Consider the following statements:
- The Charter Act of 1813 ended the East India Company's monopoly of tea trade.
- The Charter Act of 1833 ended the East India Company’s monopoly of trade with China.
Which of the above is / are correct?
Answer:
Only 2
Notes: Up to the beginning of 19th century, industrial capitalist class and free trade thinkers & thought had become more influential. Thus, in the Charter Act of 1813, the trade monopoly of the company in India ended and trade with India was thrown open to all British subjects. But, trade in tea and trade with China were still exclusive rights of the East India Company. The Company also continued to appoint its officials in India.