The EITC was an association of merchants formed by british people wanting to establish and secure trading routes in India and the rest of Asia since 1599. It started as a monopolistic trading body, but it was not just a corporation like the ones we know today, because it had full military and even some form of government powers. All in all, the EITC was an organisation which served as a catalyst for the expansion of the British Empire in Asia. It is important to note that the Company could only be created after the defeat of the Spanish Armada in 1588 by Britain, which had held control of the region together with Portugal up to that point in history. After the Spanish defeat, the Company was battled by the Dutch Indies Trading Company, which had control over what now we call Sri Lanka and Vietnam.
Source : Encyclopedia Britannica
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