By 1803, when its private army had grown to nearly 200,000 men, it had swiftly subdued or directly seized an entire subcontinent. Astonishingly, this took less than half a century. The first serious territorial conquests began in Bengal in 1756; forty-seven years later, the Company’s reach extended as far north as the Mughal capital of Delhi, and almost all of India south of that city was by then effectively ruled from a boardroom in the City of London.
