History · Colonial Economy
UGC NET December 2013 History
The English East India Company lost its monopoly of Indian trade, throwing it open to the British, by the Charter Act of:
A1793
B1813 ✓ Correct
C1833
D1853
Correct answer: (B) 1813 — The Company lost its monopoly of Indian trade by the Charter Act of 1813, so the answer is 1813.
Explanation
★The Company lost its monopoly of Indian trade by the Charter Act of 1813, so the answer is 1813.
★The act threw open the Indian trade to other British merchants.
★But the Company kept its monopoly over trade with China and in tea.
★The Company also kept its Indian territories and revenue for another twenty years.
★The act set aside one lakh rupees a year for education in India.
★This sum was meant to promote learning and science among Indians.
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