ABSTRACT
Trade was the EIC, and the EIC was trade. Profit and more profit were their principal goal. Trade was their power, using which they established the British Indian Empire, and many other colonies in the world. The English EIC was one of the most powerful and enduring organisations of trade, commerce and colonial empire. It was a dominant force in the expansion of trade between Europe and Asia. Trade was the source of their success. Their innovative policies were encouraged by their directors, who granted them right to pursue their own commercial interests while in the EIC employ. They explored new trade networks, set up enterprising trade dynamics and introduced active and convenient decision-making processes. Building on the organisational infrastructure of the EIC and the sophisticated commercial institutions of the markets of the East, employees constructed a cohesive internal network of peer communications that directed English trading ships during their voyages. This network integrated EIC operations, encouraged innovation and increased their flexibility, adaptability and responsiveness to local circumstances, sometimes using their monopoly power. Between monopoly and free trade, private trade highlighted the dynamic potential of socio-economic networks in the early modern era. As a result, England, in the 18th century, had experienced a rapid economic development in all its sectors. The other European trading companies could not directly compete with the English EIC.
