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The East India Company, which became the British East India Company after the 1707 Treaty of Union, was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China. The Company was granted an English Royal Charter by Queen Elizabeth I on 31 December 1600. After a rival English company challenged its monopoly in the late 17th century, the two companies were merged in 1708 to form the Honourable East India Company (HEIC), colloquially referred to as John Company.<br/><br/> The East India Company traded mainly in cotton, silk, indigo dye, saltpetre, tea and opium. The Company also came to rule large areas of India, exercising military power and assuming administrative functions, to the exclusion, gradually, of its commercial pursuits; it effectively functioned as a megacorporation. Company rule in India, which effectively began in 1757 after the Battle of Plassey, lasted until 1858, when, following the events of the Indian Rebellion of 1857, the British Crown assumed direct administration of India in the new British Raj. The Company itself was finally dissolved on 1 January 1874, as a result of the East India Stock Dividend Redemption Act.

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