The country aims to become a higher middle-income country by and that calls for even faster growth in the years to come.
After that date, Portugese ships would frequently return to Europe laden with spices and commodities that would fetch fabulous prices.
Other European powers looked enviously at this stream of exotica coming from the Orient. Portugal managed to hold on to its preeminent position largely in part to the Treaty of Tordesillas of This treaty had been created to divide the New Worlds between the Catholic countries of Portugal and Spain.
In effect they had carved up these New Worlds with Spain receiving a monopoly of power in most of South America and Portugal in the Indies. Working together, the two Catholic countries were able to maintain an effective blockade of these new markets for the majority of the Sixteenth Century.
The lure of potential wealth of the East was too much for the rising Protestant powers of England and Holland. The English began to look for a Northern route to the Indies. The Treaty of Tordesillas specifically stated that Portugese and Spanish monopolies were only in effect south of the Cape Verde Islands.
An English company was chartered to undertake just such an expedition. Two years later the crew were found dead on the Siberian coastline. It dawned on the English that there was no northern route to the Indies. Therefore an alternative scheme was hatched. Ina royal charter was granted to the Muscovy company.
This company was set up to explore the possibility of trade through Russia to Persia. Although economically expensive to transport goods this way, the company did actually achieve a modicum of success and allowed some Indian products to be transported back to Northern Europe.
The company actually survived until the latter stages of the Eighteenth Century. Ships would always prove to be a more economically viable way of trading with India.
And, as the English could not directly trade with India, its sailors resorted to buccaneering and piracy of the Portugese ships as they headed to Europe with their fabulously valuable cargoes. It was with the era of Drake and Cavendish looting and shooting their way around the world that the first cracks appeared in the Catholic monopoly.
The Navies of the Catholic countries were no longer strong enough to ensure an effective blockade of their New Worlds. English and Dutch ships began to pass the Cape of Good Hope in increasing numbers.
Both nations quickly established Chartered companies to exploit the commercial possiblities presented to them. The English East India Company was established in However, it was also due to the fact that the English had no products of value to the Mughals. The English at this time did not produce anything that was even remotely of interest to what was effectively an Indian superpower.
This would remain the case for many years to come and would force the English to trade precious gold and silver for the spices and commodoties of India. The breakthrough in negotiations came when the English demonstrated the one aspect that the Mughals did appreciate; raw military power.
Four Portugese galleons and a number of Portugese frigates attempted to repel the English ship. When this one English ship dispersed the entire fleet of Portugese ships, the Indians were impressed.
English stock rose and that of the Portugese fell. Although in truth, the more important fact was that by this time the English had surpassed the Portugese in terms of maritime technology and technique.Indian trade links with Europe started in through sea route only after the arrival of Vasco da Gama in Calicut, India on May 20, The Portuguese had traded in Goa as early as , and later founded three other colonies on the west coast in .
Source: Davis, Destruction of agriculture: Karl Marx wrote in Consequences of British Rule in India, “England has broken down the entire framework of Indian society, without any symptoms of reconstitution yet appearing.
Feb 17, · East India Company. British involvement in India during the 18th century can be divided into two phases, one ending and the other beginning at mid-century. India is the name given to the vast peninsula which the continent of Asia throws out to the south of the magnificent mountain ranges that stretch in a sword like curve across the southern border.
We begin this course by discussing the history of pre-partition India i.e. before We will trace the trajectory of British rule from its inception in India and discuss important events like the mutiny of , the formation of the Indian National Congress and the Muslim League, the divide and rule policy of the British, the idea of separate electorates and how it paved the way for partition in the subcontinent.
Oct 31, · India—died January 30, , Delhi), Indian lawyer, politician, social activist, and writer who became the leader of the nationalist movement against the British rule of India. As such, he came to be considered the father of his country.