AI Overview
On March 27, 1668, King Charles II of England officially leased the islands of Bombay to the English East India Company for an annual rent of just £10.
The lease agreement—facilitated via a Royal Charter—transferred the archipelago (which was originally acquired by Charles II as part of a dowry from Princess Catherine of Braganza of Portugal) because the Crown found it to be a costly and politically troublesome liability. In exchange for the territory, the East India Company also provided the King with a lucrative loan of £50,000. This modest lease laid the foundation for the Company to transform a quiet cluster of seven islands into a global commercial metropolis.
The Core Details
- The Transaction: King Charles II leased the port and island of Bombay to the East India Company.
- The Rent: A nominal annual fee of £10 in gold, payable to the British Crown.
- The Strategic Context: In exchange for the lease, the East India Company granted the King a massive loan of £50,000 at 6% interest.
- The Outcome: The Company moved its operations from Surat to Bombay and appointed Sir George Oxenden as its first Governor, ultimately building the city into the 'Urbs Prima in Indis' (First City in India).
Further Exploration: EIC Rule in Bombay
- Read a detailed historical overview of the charter on Wikipedia.
- Explore how a royal dowry shaped the city on the Times of India.
- Review the colonial history of Bombay under Portuguese and British rule on Wikipedia.
Would you like to know more about how Governor Gerald Aungier helped develop Bombay into a premier port city, or are you interested in the reclamation projects that joined the original seven islands together?
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Missing: 27th march
