The Chamber was founded in 1836 by seven Britishers and three Parsees “to encourage a friendly feeling and unanimity among commercial men on all subjects involving the common good, to promote and protect the general mercantile interests of this [Bombay] Presidency, to collect and classify information on all matters of general mercantile interest, to obtain the removal … of all acknowledged grievances…” In those days there was an entrance fee of Rs 150 and a monthly subscription of Rs 20. Other objects and duties included simplification and facilitation of business practices, communication with public authorities on all matters of mercantile interest and to carry out arbitration of disputes among members.