The British East India Company was chartered by Queen Elizabeth I for developing trade and commerce with Asia. The principle cause for introducing the British East India Company was to break the monopoly of the Dutch in spice trade with the East Indies. The English East India Company established its first factory in the year 1611 at Machilipatnam located in the Indian state of Andhra Pradesh. The Mughal emperors who were ruling India at that time gave the British unlimited privileges and control over many things in the economy.
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Almost impossible to answer due to overlapping histories of a company called by different names and sponsorship . Dutch EIC , French EIC , Port. EIC. Enlish EIC and finally East Ind Co. Of course it was started under the patronage of James ! ,others like West, Crowe, Lancaster played key role at one time or another.