![]() Initially a junior partner in the Mughal empire’s sophisticated commercial networks, in the 18th century, the EIC became increasingly involved in subcontinental politics. Listen: William Dalrymple explains how a single London corporation took over the Mughal empire and became a major imperial power on this episode of the HistoryExtra podcast. ![]() Although always volatile, EIC shares became an important bellwether of the British economy and the company emerged as one of London's most powerful financial institutions. The company grew in both size and influence across the 17th and 18th centuries. Meanwhile, the ‘joint stock’ organisation of the company spread the cost and risk of individual voyages between investors. From these coastal toeholds, they orchestrated the profitable trade in spices, textiles and luxury goods on which their commercial success was predicated, dealing with Indian artisans and producers primarily through Indian middlemen. ![]() With Emperor Jehangir’s permission, they began to build small bases, or factories, on India's eastern and western coasts. ![]() “This was a corporation that could topple kings”: William Dalrymple on the East India Company.
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