Which of the following tactics did the EIC use to monopolize trade in India? (1 point)
The EIC used a variety of tactics to monopolize trade in India, including:
1. Exclusive Charters: The EIC acquired exclusive rights from the British government to trade with India, effectively shutting out other European competitors. These charters gave the EIC a monopoly on trade in certain regions or products.
2. Manipulation of Indian rulers: The EIC manipulated the Indian rulers, often through bribery and corruption, to grant them favorable trade agreements and tax exemptions. This allowed the EIC to establish a dominant position in the Indian markets.
3. Competition suppression: The EIC actively sought to eliminate or suppress competition from other trading companies or local merchants. They sometimes resorted to violence or coercion to ensure their dominance in the Indian trade.
4. Control over key ports and forts: The EIC strategically acquired control over key ports and forts along the Indian coastline. This gave them control over the entry and exit points of trade, allowing them to dictate prices and conditions.
5. Economic imperialism: The EIC engaged in economic imperialism by establishing a system of production and trade that heavily favored British goods and restricted the growth of Indian industries. This further solidified their monopoly over trade in India.