Question
Download Solution PDFWhich of the following Acts abolished the East India Company's monopoly of trade with China?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- The Charter Act of 1833 abolished the East India Company's monopoly of trade with China.
- This act was one of the series of Charter Acts passed by the British Parliament to regulate the affairs of the East India Company.
- The act marked the beginning of the end of the commercial activities of the company, focusing more on administration.
- It also allowed the company to continue its territorial possessions in India but under strict regulation by the British government.
Additional Information
- The Charter Act of 1833 is also notable for making the Governor-General of Bengal the Governor-General of India, consolidating the administration.
- The act also introduced a system of open competition for the selection of civil servants, although it was not implemented until the 1850s.
- It is considered a significant step towards the centralization of the administration in India.
- Other important provisions included the establishment of a law commission and the codification of laws.
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