Q. Monopoly of the East India Company to trade with China was abolished by the Charter Act of
(a) 1793
(b) 1813
(c) 1833
(d) 1853
Ans: (c) 1833
Explanation: The monopoly of the East India Company to trade with China was abolished by the Charter Act of (c) 1833.
The Charter Act of 1833, also known as the Government of India Act 1833, was a significant piece of legislation passed by the British Parliament to regulate the affairs of the British East India Company and its administration in India. One of the key provisions of this act was the abolition of the East India Company’s monopoly on trade with China.
Prior to the Charter Act of 1833, the East India Company had exclusive rights to trade with China, particularly in tea and other commodities. However, the act opened up trade with China to other British merchants and companies, ending the East India Company’s monopoly in that regard.
The act aimed to promote free trade and competition in the British Empire, and it significantly changed the governance and commercial operations of the East India Company in India and beyond.