The French East India Company, which was formed in 1664, established trade centres at Surat, Pondicherry near Madras, Chandernagar in Bengal and Mahe near Mysore. The French East India Company was founded by the French government and its factories depended on government support.where as the Dutch East India Company was more interested in the profitable spice trade with the islands of the East Indies. They were soon pushed out by the other European companies.