Explanation: The East India Company, a British trading company, was established in 1600 with the aim of conducting trade with the East Indies. Over time, the Company expanded its operations to include India, where it sought to establish a strong trading presence. The Mughal Empire, which ruled much of the Indian subcontinent during this period, was a significant player in the region's politics and economy.
In 1717, the Mughal Emperor Faarukhsiyar granted the East India Company several important rights and privileges. Among these was the right to carry duty-free trade. This meant that the Company could import and export goods without paying taxes, which was a significant advantage over other traders. This right was granted in the form of a farman, a royal decree, which was a common practice in the Mughal Empire to grant privileges to various groups.
The duty-free trade right was a crucial factor in the East India Company's growth and expansion in India. It allowed the Company to accumulate wealth and resources more efficiently, which in turn enabled it to strengthen its political and military presence in the region. Over time, the Company's influence grew, and it played a significant role in the decline of the Mughal Empire and the eventual establishment of British colonial rule in India.
It is important to note that the granting of this right by Faarukhsiyar was not an isolated event. The Mughal Empire was facing internal and external challenges, and the Company's support was seen as a means to strengthen the Empire's position. However, the long-term consequences of this decision were far-reaching and contributed to the eventual loss of Mughal control over much of India.
In summary, the East India Company's right to carry duty-free trade was granted by the Mughal Emperor Faarukhsiyar in 1717. This right was a significant factor in the Company's growth and expansion in India, and it played a crucial role in the broader context of British colonialism in the region.