Which Act of British Parliament abolished the East India Company monopoly over trade in India?

Q – Which Act of British Parliament abolished the East India Company monopoly over trade in India?

( a ) Regulating Act

( b ) Pitt’s India Act

( c ) Charter Act of 1813

( d ) None of the above

Uttarakhand P.C.S. ( Pre ) 2016

Ans. ( c )

Explanation – Charter Act of 1813 abolished the trade monopoly of the company in India i.e., the Indian trade was thrown open to all British merchants. However, it ( company ) continued the monopoly of the company over trade in tea and trade with China.

Charter Act of 1813 The features of this Charter Act of 1813 were as follows :- It abolished the trade monopoly of the East Indian company in India i.e., the Indian trade was thrown open to all British merchants. However, it continued the monopoly of the company over trade in tea and trade with China. It asserted the sovereignty of the British Crown over the Company’s territories in India. It allowed the Christian missionaries to come to India for the purpose of enlightening the people. It provided for the spread of western education among the inhabitants of the British territories in India. It authorised the Local Governments in India to impose taxes on persons. They could also punish the persons for not paying taxes.