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British East India Company

Definition

The British East India Company was an English company formed in 1600 for the exploitation of trade with East and Southeast Asia and India. It played a significant role in the history of Britain's colonial empire.

Analogy

Think of the British East India Company as Amazon today. Just like Amazon dominates global online retail, this company dominated trade between Britain and Asia. It had its own army, made its own laws, and even controlled territories - imagine if Amazon did all that!

Related terms

Monopoly: Exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices. The British East India Company held monopoly over tea trade.

Opium Wars: Two wars in the mid-19th century involving Anglo-Chinese disputes over British trade in China (including opium) and China’s sovereignty. The disputes included quarrels over how Britain's massive trade deficit with Qing dynasty China could be rectified.

Sepoy Mutiny: A violent and very bloody uprising against British rule in India in 1857 led by Indian soldiers serving in the army of the British East India Company.