The Charter Act of 1813 ended whose monopoly over trade in India?
Show answer & explanation
Correct answer: C
Explanation
Solution: The correct answer is British East India Company (except tea/China trade).
Explanation:
☛ The Charter Act of 1813 passed by the British Parliament abolished the trade monopoly of the British East India Company in India.
☛ Under this Act, commercial trade with India was thrown open to all private British merchants.
☛ However, the Company’s monopoly over the trade in tea and trade with China was continued for another 20 years.
☛ The Act also mandated an annual grant of ₹1 lakh for the revival and promotion of literature and education in India.
☛ It formally granted permission to Christian missionaries to enter India to spread religion and western education.
Extra Exam-Relevant Facts:
☛ Charter Act of 1833: Completely terminated all commercial privileges of the East India Company, including the tea and China trade, making it a purely administrative body.
☛ Charter Act of 1793: Renewed the commercial monopoly of the East India Company for a period of 20 years.
☛ Dutch East India Company: Established in 1602, its influence in India ended following major defeats, notably in the Battle of Colachel (1741) and the Battle of Bedara (1759).
☛ French East India Company: Formed in 1664 during the reign of King Louis XIV, its power in India was crushed by the British in the Battle of Wandiwash (1760).
Important One-Liners for Upcoming Exams:
☛ Which Act completely abolished all commercial monopolies of the East India Company? → Charter Act of 1833
☛ Which Act sanctioned an annual amount of ₹1 lakh for education in India? → Charter Act of 1813
☛ Who was the Governor-General of Bengal when the Charter Act of 1813 was enacted? → Lord Minto I
☛ Through which Act were Christian missionaries legally permitted to preach in India? → Charter Act of 1813
☛ Who became the first Governor-General of India under the Charter Act of 1833? → Lord William Bentinck