Explanations:The English East India Company was a significant player in the early colonial history of India. It was established in 1600 by a royal charter granted by Queen Elizabeth I, but the company's ability to conduct trade in India was initially limited by the need to pay duties and taxes to the Mughal Empire. The Mughal Empire, which ruled much of the Indian subcontinent from the 16th to the 19th century, was a powerful and sophisticated state with a complex system of governance and taxation.
The Mughal Emperor Faarukhsiyar, who ruled from 1713 to 1719, granted the English East India Company the right to carry duty-free trade in India in 1717. This was a significant event in the history of British colonialism in India. The decree, known as the Farman of 1717, was a formal document issued by the Mughal emperor that granted the company several privileges, including the right to establish factories (trading posts) and to trade without paying duties. This decree was a turning point for the East India Company, as it allowed the company to establish a strong economic foothold in India and to expand its operations significantly.
The Farman of 1717 was part of a broader strategy by Faarukhsiyar to strengthen his position against his rivals within the Mughal Empire. By granting the East India Company these privileges, he hoped to gain their support and to use their resources to his advantage. However, the long-term consequences of this decision were far-reaching and contributed to the eventual decline of the Mughal Empire and the rise of British colonial power in India.
It is important to note that the Farman of 1717 was not the only factor that contributed to the East India Company's success in India. The company's ability to establish a strong military presence, its strategic alliances with local rulers, and its control over key ports and trade routes were also crucial factors. Nevertheless, the Farman of 1717 was a significant milestone in the history of British colonialism in India and marked the beginning of a new era of economic and political dominance by the East India Company.