The British East India Company acquires the rights to rent Madras from the Mughal Empire.

Background:

• In the early 17th century, the British East India Company, along with other European trading companies, sought to establish trading posts and factories along the Indian coastline.
• The Mughal Empire, under the reign of Emperor Shah Jahan, held control over many parts of India, including the eastern coast where Madras is located.

Acquisition of Madras:

• In 1639, on March 22nd, Francis Day, a representative of the British East India Company, struck a deal with the local Nayak rulers of the region. Specifically, the ruler of the Chandragiri kingdom, to acquire a piece of land along the Coromandel Coast.
• The British East India Company obtained a grant from the Nayak ruler for a small strip of land near a fishing village called Madraspatnam.

Development and Expansion:

• In 1640, the British East India Company constructed a fortified factory and warehouse on the acquired land, establishing their presence in the region.
• Over time, Madraspatnam grew into a significant trading settlement for the British East India Company.
• The Company expanded its activities, engaging in trade, establishing warehouses, and fortifying the settlement to protect its interests.

Rise of Madras Presidency:

• In 1653, Madras became the center of the British East India Company’s operations in the region, eventually evolving into the Madras Presidency.
• The Company gained administrative control over the surrounding territories, extending its influence in South India.
• The Madras Presidency played a crucial role in the British Empire’s administration and economic activities in India.

Impact:

• The acquisition of Madras marked a significant milestone for the British East India Company’s presence in India. It laid the foundation for their subsequent territorial acquisitions and establishment of British rule.
• Madras emerged as an important center of trade, commerce, and governance under the British, contributing to the economic and political development of the region.

The British East India Company’s acquisition of the rights to rent Madras from the Mughal Empire occurred in 1639, and the subsequent development and expansion of the settlement took place in the following years. Madras played a crucial role in the British Empire’s presence in South India, eventually becoming the Madras Presidency and contributing to the region’s economic and political development.