Portuguese East India Company Portuguese East India Company The Portuguese East India Company ( or ) was a short-lived ill-fated attempt by Philip III of Portugal to create a national chartered company to look after interests in Portuguese India in the face on encroachment by the Dutch and English following the personal union of the Portuguese and Spanish Crowns. Portuguese trade with India had been a crown monopoly since the Portuguese captain Vasco da Gama opened the sea route to India in 1497-99. The monopoly had been managed by the Casa da Índia, the royal trading house founded around 1500. The Casa was responsible
Portuguese discovery of the sea route to India the ships back into the river Tagus, bringing with them the good news that bestowed on Portugal a prestigious maritime position. Spices were always considered the gold of the Indies. Cinnamon, ginger, cloves, pepper and turmeric had long been products which were difficult to obtain in Europe and brought in by caravans and experienced merchants coming from the East. A merchant of Lisbon describes the overland spice route as follows: Only the markets of Venice and Genoa then scattered these spices all over Europe, great in cost, and without guaranteed arrival. In 1453, with the capture of the city of