With the advent of Colonialism worldwide communications greatly increased. Leading this new exchange were the East India Companies, monopolies formed under the flags of many of the European nations. Perhaps the most famous, the Dutch East India Company, opened trading in 1602 with a monopoly grant from the Cape of Good Hope east to the Straight of Magellan. In the 18th century power passed to the British East India Company. In 1784, with the British India Act, the company gained governmental powers over the Indian subcontinent, foreshadowing the coming age of multinational corporate power.