section_path: Wars and overseas trade/East India Company
section_name: East India Company
paragraph_text: East India Company
  
  The East India Company was formed to trade in the Indian Ocean region and China, and received its charter from Queen Elizabeth on 31 December 1600. For a period of 15 years, the company was awarded a monopoly on English trade with all countries east of the Cape of Good Hope and west of the Straits of Magellan. James Lancaster commanded the first expedition in 1601. The Company eventually controlled half of world trade and substantial territory in India in the 18th and 19th centuries.