WBCS.LIVE practice question

By which of the following regulation British East India Company’s trade monopoly in India was abolished?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Charter Act of 1793
  2. Charter Act of 1813
  3. Charter Act of 1833
  4. Charter Act of 1853

Correct answer and explanation

Correct answer: Charter Act of 1813

Explanation: The correct answer is B. Charter Act of 1813. The Charter Act of 1813 was a significant legislation passed by the British Parliament that ended the trade monopoly of the British East India Company in India, except for trade in tea and trade with China. This act opened Indian trade to other British merchants, marking the beginning of free trade in India under British rule.