The British East India Company, often referred to as the EIC, was a trading company founded in 1600 by Queen Elizabeth I. The company was granted a royal charter by the Queen, allowing it to trade with the East Indies. The company was initially successful and grew in size and influence over the next two centuries. By the 1700s, the EIC had become one of the most powerful companies in the world, with a monopoly on trade between Britain and India.