INSIGHT UPSC QUIZ

GS History Modern India
Q.

Consider the following statement regarding The East India Company-

1. The East India Company was formed by the group of merchants.

2. The British government owned no shares in it.

3. Before East India Company established trade in India ,John Mildenhall, a merchant adventurer was the first English man who arrived in India in 1599 for the purpose of trade.

Which of the above statement(s) is/are not correct?

Explanation:
  • The East India Company, originally chartered as the Governor and Company of Merchants of London trading into the East Indies,Was formed by the group of merchants.
  • Shares of the company were owned by wealthy merchants and aristocrats. The government owned no shares and had only indirect control.

Thus, Option D is Correct.

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