For centuries, the East India Company shaped India’s history in ways that still echo today. What began as a trading venture slowly grew into a powerful force that paved the way for nearly 200 years of British rule. But the most surprising chapter came much later when an Indian businessman bought the same company that once ruled his country.
How the East India Company Entered India
The East India Company was founded on 31 December 1600 in England. Its main goal was simple: to import spices, tea and rare goods from India to Europe. In 1608, Captain William Hawkins arrived in India with one of the company’s ships, marking the start of British contact.
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Europe depended heavily on spices, especially during harsh winters when meat needed to be preserved for long periods. That made India extremely attractive for trade.
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In 1613, Mughal emperor Jahangir allowed the company to set up its first factory in Surat. By 1690, they had expanded and built another major base in Calcutta (now Kolkata).
Divide and Rule: The Company Turns to Politics
What started as trade soon turned into political interference. The company saw opportunities in the internal rivalries of Indian kingdoms. By creating divisions among rulers, it slowly tightened its grip over large parts of India.
Over time, Indians needed the company’s approval for even the simplest matters. The British Empire became so vast that people often said, “The sun never sets on the British Empire.” But eventually, change came.
Revolt of 1857: The Turning Point
In 1857, Indian soldiers posted in Meerut rebelled against the British. This uprising often called the First War of Independence shook the East India Company to its core. Business collapsed, and exporting spices to Europe became difficult.
This turmoil eventually led to the company being dissolved in 1874. For more than 130 years, the company remained shut and forgotten.
An Indian Buys the Company That Once Ruled India
In 2005, something extraordinary happened. Sanjeev Mehta, an Indian businessman, purchased the East India Company.
Who is Sanjeev Mehta?
Born in October 1961 into a Gujarati Jain family, Mehta grew up around business. His grandfather once ran a diamond business in Belgium in the 1920s. After the family returned to India in 1938, Mehta completed his early education at Sydenham College in Mumbai and later studied at IIM Ahmedabad. He even trained at the Gemological Institute in Los Angeles.
During the 1980s, he started an export business from home. One of his products a “Hugi” hot water bottle became a big success.
How He Bought the Company in Just 20 Minutes
When former shareholders tried to revive the East India Company in 2005, Mehta acted quickly. In just 20 minutes, he bought 21% of the company’s shares.
He later revealed in interviews that he spent 18 months studying the company’s history in the British Library and Victoria & Albert Museum before making his move.
Mehta often says, “I didn’t create the brand history did. I am only its trustee for the next generation.” It is a powerful symbol: the company that once ruled India now belongs to an Indian.