Charter Act 1813

Common card · No. 488254

The East India Company Act 1813 (53 Geo. 3. c. 155), also known as the Charter Act 1813, was an act of the Parliament of the United Kingdom that renewed the charter issued to the British East India Company, and continued the Company's rule in India. However, the Company's commercial monopoly was ended, except for the tea and opium trade and the trade with China, this reflecting the growth of British power in India. Napoleon’s Berlin Decree of 1806 and the Milan Decree of 1807 established the Continental System across Europe as it barred the import of British goods into Europe. Due to these restrictions, the British traders pressed for the dissolution of the East India Company’s trade monopoly and sought greater access to Asian markets, which was the circumstance leading to the passing of this Act. India was made into a source of raw materials as well as a market for Britain’s finished products, through the economic and cultural changes brought about by this Act.

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