The British entered India with the East India Company. The institution was founded in 1600 by a royal charter of Queen Elizabeth. In 1607, one of his company’s ships Hector reached India after traveling more than 16000 kilometers. It was the first British ship to come directly from England to India. After this the company started trading from here.
In 1690, the company’s first factory was set up in Kolkata. After this, the East India Company ruled India for many years. However, after the Revolution of 1857, the authority of the Company was transferred to the British Government. In 1874, the East India Company was completely removed from India and the reign of Queen Victoria of England began.
After about 131 years, the company resurrected itself. But this time Mumbai-born businessman Sanjeev Mehta bought the East India Company. He bought it saying that the East India Company had changed the taste, the thinking and the people of the world. According to Mehta, “Without the East India Company, the world would not have existed today”.
What is the company doing now?
After taking over the company in 2005, Sanjeev Mehta focused more on luxury tea, coffee and food products. According to information on the company’s website, the company manufactures tea, gin, coffee, chocolate, biscuits and luxury gift hampers. Apart from this, the company also manufactures luxury household products and other types of beverages.
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The company prints and sells historical coins. After its revival, in 2010, the East India Company’s first store opened in Mayfair, a posh part of London. Sanjiv Mehta says that the old East India Company stood on the strength of aggression but this East India Company was built on goodwill and kindness.
Permission to print coins
The company was given permission to print gold stamps. These coins were last minted in British India in 1918. The East India Company is also allowed to trade under the old company’s brand. According to available sources, at the height of the old East India Company, one-third of Britain’s labor force worked for the company. Sanjeev Mehta is confident that the company will be back in business in India soon.
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