In the given question, a statement of Assertion is followed by a statement of Reason. Mark the correct answer.

Assertion: In England, many groups wanted a revocation of the Royal Charter that gave a monopoly to East India Company over trade with India and China.

Reason: Many private traders wanted a share in the Indian trade, and the industrialists of Britain were keen to open up the Indian market for British manufacturers.

Both the Assertion and the Reason are correct and the Reason is the correct explanation of the Assertion.

The correct answer is Option 1 - Both the Assertion and the Reason are correct and the Reason is the correct explanation of the Assertion.

Assertion: In England, many groups wanted a revocation of the Royal Charter that gave a monopoly to the East India Company over trade with India and China.

Reason: Many private traders wanted a share in the Indian trade, and the industrialists of Britain were keen to open up the Indian market for British manufacturers.

The Assertion is generally true historically. There were indeed various groups in England, including private traders and industrialists, who sought to end the monopoly held by the East India Company to gain access to Indian trade and markets. The Reason also aligns with historical motivations. Private traders sought profits from trade, while industrialists sought new markets for their goods, both of which were hindered by the East India Company's monopoly. So both the Assertion and the Reason are correct and the Reason is the correct explanation of the Assertion.

There were many groups in Britain who were opposed to the monopoly that the East India Company had over trade with India and China. These groups wanted a revocation of the Royal Charter that gave the Company this monopoly. An increasing number of private traders wanted a share in the Indian trade, and the industrialists of Britain were keen to open up the Indian market for British manufacturers. Many political groups argued that the conquest of Bengal was benefiting only the East India Company but not the British nation as a whole.