Consider the following statements about ‘the Charter Act of 1813’:
1. It ended the trade monopoly of the East

Question

Consider the following statements about ‘the Charter Act of 1813’:
1. It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China.
2. It asserted the sovereignty of the British Crown over the Indian territories held by the Company.
3. The revenues of India were now controlled by the British Parliament.
Which of the statements given above are correct?

Accepted Answer

The Charter Act of 1813 was significant as it ended the East India Company's commercial monopoly over India, except for the lucrative tea trade and trade with China. It also formally recognized the British Crown's sovereignty over territories administered by the Company, shifting the political control dynamic. While Parliament increased its oversight, direct control over Indian revenues was not fully established by this act; that would evolve later.