British East India Company (EIC)
Definition
The British East India Company was an English company formed for the exploitation of trade with East and Southeast Asia and India, incorporated by royal charter on December 31, 1600.
Analogy
Think of EIC as Amazon in its early days. Just like how Amazon started as an online bookstore but expanded into selling almost everything, EIC began trading spices but eventually controlled large parts of India.
Related terms
Sepoy Mutiny: A widespread rebellion in northern and central India against the rule of the British East India Company in 1857-58.
Charter Act: Series of acts passed by British Parliament to renew and regulate EIC's control over Indian territories.
Doctrine of Lapse: Policy implemented by Lord Dalhousie under EIC rule that allowed British to annex any princely state where ruler died without a male heir.
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