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79th Independence Day: The East India Company which ruled India for 200 years is now owned by Indian
As India marks its 79th Independence Day, there’s an irony worth celebrating. The East India Company, the very entity that paved the way for nearly two centuries of British rule, is now owned by an Indian. Once the backbone of the British Empire, it expanded its reach so widely that it was said, “the sun never sets on it.” Today, its story has come full circle.
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BirthofaColonialPower
Founded on December 31, 1600, in England under a royal charter from Queen Elizabeth I, the East India Company began as a trading enterprise with extraordinary powers. Initially dealing in spices, silk, and tea, it soon expanded its influence in India and East Asia. What started as commerce quickly evolved into conquest.
A turning point came with the Battle of Plassey on June 23, 1757, when the company defeated the Nawab of Bengal. This victory cemented British dominance in the region and paved the way for the company’s eventual control over most of India.
DeclineandDissolution
The company’s rule was marked by heavy taxation, exploitation, and political manipulation. These policies fueled discontent, culminating in the 1857 Revolt, which is regarded as India’s first war of independence. Following the uprising, the British Crown dissolved the company’s administrative powers in 1858, taking direct control of India.
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AnIronicTwistofFate
Today, the East India Company no longer commands armies or territories. Instead, it operates in the luxury goods sector, selling fine teas, coffees, gourmet foods, and elegant homeware. And the man at its helm? Sanjiv Mehta is an Indian-born British entrepreneur. On this Independence Day, the irony is striking- the company that once ruled India is now run by someone from the very nation it once subjugated.