Q. Which of the following statements about the English East India Company are true?

1. It was formed in 1599 by a group of merchants, known as the ‘Merchant Adventures’.
2. It was granted a charter by Queen Elizabeth in 1600 giving it the monopoly of Eastern trade for an indefinite period.
3. The Company’s monopoly of Eastern trade was abolished by James I in 1609.
4. It decided to open a factory at Surat in 1608.

Select the correct answer from the codes given below:
Answer: 1 and 4
Notes: The English Trading Company was formed by a group of merchants known as the 'Merchant Adventures' in 1599 AD. This company was granted a charter by Queen Elizabeth I on 31 Dec 1600 AD. The Governor and the Company of Merchants of London trading into East Indies was the name of English company. This company was given monopoly rights over Eastern trade for fifteen years. Charter act of 1813 ended the monopoly of the East India Company in India, however the company’s monopoly in trade with China and trade in tea was remained intact. The charter act of 1813, for the first time explicitly defined the constitutional position of the British territories in India.