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In page East India Company:
"Company ships docked at Surat in Gujarat in 1608.[1] The company's first Indian factory was established in 1611 at Masulipatnam on the Andhra Coast of the Bay of Bengal, and its second in 1615 at Surat.[2][1] The high profits reported by the company after landing in India initially prompted James I to grant subsidiary licences to other trading companies in England. However, in 1609, he renewed the East India Company's charter for an indefinite period, with the proviso that its privileges would be annulled if trade was unprofitable for three consecutive years.[citation needed]
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