The name of East India Company gives a connotation of British’s colonial exploitation in the Indian Subcontinent, which started in the 16th century. But, it’s quite ironical to know that an Indian now owns this company.
This London-based company, primarily established for trading spices, received a green signal by the royal charter to jeopardize South Asia, inclusive of the Indian Subcontinent. For the next two and a half centuries, it ruled and exploited the Indian Subcontinent. However, with the uprise of soldier’s revolt of 1857, the economic and territorial backbone of the company dissembled, and consequently the company disbanded by 1874.
A tiny portion of this company persisted that dealt in coffee and tea concerns. In 2005, Sanjiv Mehta, an Indian businessman, acquired the whole of the company and converted it into a brand of luxury teas and coffees. Today, Mehta is legally licensed to trade under the seal of this historic company. He said that when the shares of the company were put for sale, he bought them at once without considering the hefty cost involved. Buying the shares of a company that left an indelible mark in his country’s history was indeed an emotional bet for him. He said news channels that he has built this company on compassion, unlike the previous one that was constituted on aggression.
Mehta also said he was worried that running a colonizer company will not leave a good impression in his home country. However, the fact that an Indian is now ruling the company that once ruled Indians was positively welcomed in India.