<P> In the following decades there was a constant battle between the company lobby and the Parliament . The company sought a permanent establishment, while the Parliament would not willingly allow it greater autonomy and so relinquish the opportunity to exploit the company's profits . In 1712, another act renewed the status of the company, though the debts were repaid . By 1720, 15% of British imports were from India, almost all passing through the company, which reasserted the influence of the company lobby . The licence was prolonged until 1766 by yet another act in 1730 . </P> <P> At this time, Britain and France became bitter rivals . Frequent skirmishes between them took place for control of colonial possessions . In 1742, fearing the monetary consequences of a war, the British government agreed to extend the deadline for the licensed exclusive trade by the company in India until 1783, in return for a further loan of £ 1 million . Between 1756 and 1763, the Seven Years' War diverted the state's attention towards consolidation and defence of its territorial possessions in Europe and its colonies in North America . </P> <P> The war took place on Indian soil, between the company troops and the French forces . In 1757, the Law Officers of the Crown delivered the Pratt - Yorke opinion distinguishing overseas territories acquired by right of conquest from those acquired by private treaty . The opinion asserted that, while the Crown of Great Britain enjoyed sovereignty over both, only the property of the former was vested in the Crown . </P> <P> With the advent of the Industrial Revolution, Britain surged ahead of its European rivals . Demand for Indian commodities was boosted by the need to sustain the troops and the economy during the war, and by the increased availability of raw materials and efficient methods of production . As home to the revolution, Britain experienced higher standards of living . Its spiralling cycle of prosperity, demand and production had a profound influence on overseas trade . The company became the single largest player in the British global market . William Henry Pyne notes in his book The Microcosm of London (1808) that: </P>

Difference between british government and east india company