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Old 21st February 2010, 00:28   #1
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Default East India Company coming back to India

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East India Company, whose forces once ruled over much of India, is coming to India again but under Indian ownership this time around, a British newspaper reported Monday.

Indian entrepreneur Sanjiv Mehta, who has bought all the shares in the company, will launch the East India Company's store in the upmarket Mayfair neighbourhood of London in the spring, with plans to open a second by the year-end, The Times reported. This will be followed by stores in India and the Middle East, with concessions in Japanese department stores and franchises in Russia, and finally the US.

The stores will sell teas, coffee and spices - in keeping with the company's 400-year history - but also chocolates, furniture, leather goods, fabrics, homewares, fruit pickles and sushi among 500 planned lines.

“In my lifetime I could not possibly create a brand like this. Nobody could,” Mehta told The Times. “This company has huge potential. What makes this more special is that I am Indian, so there is a huge feeling of redemption for me. It is buying back a company that owned India. “It would be nice to go back to my motherland as the owner. It is very personal to me,” said Mehta, who has invested 10 million pounds into developing the company with the help of wealthy investors.
East India Company coming to India again: report- Hindustan Times

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Old 21st February 2010, 03:46   #2
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I never knew the EIC still existed!!!
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Old 21st February 2010, 15:47   #3
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I don't think that EIC is of any relevance today. India has moved on!
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Old 21st February 2010, 18:09   #4
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EIC and SUSHI?? what is going on??
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Old 21st February 2010, 19:26   #5
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Originally Posted by ph03n!x View Post
I never knew the EIC still existed!!!
Same here but i recently read this news elsewhere and its a matter of proud for us that an Indian has bought it.
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Old 22nd February 2010, 10:23   #6
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+1 to @dodge
more than the fact that the EIC is coming back to india, they are planning on bringing in some high stuff... but a small part of me was proud of the fact that it had been bought over by an Indian.
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Old 22nd February 2010, 10:55   #7
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Indeed a great news. A company that ruled India in the history is now Indian owned. More than the company, I am keen on knowing the items of history that the company would be having in its archives.
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Old 22nd February 2010, 11:17   #8
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Lets talk practical, at th end of the day it has to survive by cut throat competition by other giants in india and not by its history. so i think emotions will pay less of part than business sense.
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Old 22nd February 2010, 11:43   #9
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There used to be an advertisement on TV sometime back.

A successful NRI was shown purchasing the East India Company even though it was under losses.

The successful NRI is then shown eating Rajnigandha (Pan Masala) and proudly saying that they have ruled us for so many years, now its our turn.

Was the advertisement inspired by this news, or was it the other way round ?

Rohan
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Old 22nd February 2010, 14:31   #10
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British East India Company did more than just rule India. They made it possible for Britain to become and remain the most powerful country in the world for 300 years. If not for BEIC, France would have easily won the peninsular war, and most of the world would be talking French instead of English. Americans would be speaking German because of the reduced British influence.

During 18th-19th century, India was the biggest producer of saltpeter, a critical component for gunpowder. Whoever controlled India controlled the world.

There was also a Dutch East India company, but they lost out to Brits.
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Old 22nd February 2010, 14:42   #11
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Some facts:
East India Company - Wikipedia, the free encyclopedia
EIC was dissolved long back in 1873. Whoever has bought it now, is just using the name for their own business interests. Don't be fooled by the sweet PR talk.

As an Indian I don't see any reason to celebrate or to take it as a matter of pride. Because it is still a British Company trying to do some kind of business, no different from other international companies.
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