Time for trade, time for takeover

The Dutch East India Company (VOC) is chartered for exclusive trade with Mughal India, today in 1602. This would be the start of the International conglomerates which would rule over India soon.

The flag of the United East India Company; Source: Public Domain

Vereenigde Oostindische Compagnie, or the United East India Company, marked the beginnings of something unique in the history of both Europe and India - for once this Company was established, it would intertwine both fates together.

The VOC was a monopoly - it was a group forced by the Dutch government, of all the traders willing to trade with the Eastern empires, especially the Mughals. A united company thus could be the sole contact between the government and its trade interests, and would not cause chaos by competition among various different ones.

The VOC became the only company allowed by the Dutch government to trade with India - chartered on the 20th of March 1602. Little did they know what impact this decision might have - because the VOC came to be the representative of the Dutch colonial empire in the East, as it was let for weeks and months without orders from above, and consolidated its own power in the colonies.

This became the first mega cooperation the world would see, and not a mere trading company. It had many international activities. It coordinated shipbuilding and the production of spice, inter-Asian trade, as well as being an employer across 3 continents.

The VOC’s example would inspire other countries to take similar measures to boost up their economy as well - with the French and English East India Company not far behind. Eventually, they would also become the cause of its downfall in the 17th century. However, for now, the VOC would come to become the richest company the world had seen till then, including till present day by estimates.

The VOC would gain power in Southeast Asia and ports along the Indian coast - and its vestiges would only be wiped out by Britain as it consolidated its own holdings over India throughout the 18th century.