The British East India Company was an essential part of Britain's growing influence around the world and, subsequently, its transformation into a strong economic nation. Founded in 1600 with the royal seal of approval from Queen Elizabeth I, the following year the company built boats for its first voyages to the East Indies. Over time, as the company's profits increased and its value and prestige grew, it became a major political force and a vital element of the British economy. The British East India Company was a very important element in the development of trade and commerce systems today. (?) Queen Elizabeth I approved trade because it would increase the amount of interaction between Britain and other countries and she believed it could bring great benefits to the country itself in the long run. This shows that even Queen Elizabeth I was willing to expand England's borders and make it a more prosperous and profitable country by taking on the risk of a company that could have failed. The British East India Company initially began as a small venture with the goal of bypassing the East ...