Indore is the largest city of the Indian state of Madhya Pradesh where it serves as the capital and the administrative headquarters of the eponymous district and division. Modern-day Indore was established on the banks of the Kanh and Saraswati rivers and traces its roots to its 16th-century founding as a trading hub between the Deccan Plateau and Delhi. Following the conquest of Malwa by Peshwa Baji Rao I, the city came under the control of the Maratha Empire until its annexation by the British East India Company.Prior to Indian independence, the Kingdom of Indore was a nineteen Gun Salute Princely State of the British Raj with the Holkars as rulers.