It has been suggested that the stripes were inspired by the flag of the Majapahit Empire, whose flags may still have flown across the Spice Islands in the Company's early days.
At the time of the American Revolution the East India Company flag would have been identical to the Grand Union Flag. The flag probably inspired the Stars and Stripes (as argued by Sir Charles Fawcett in 1937). Comparisons between the Stars and Stripes and the Company's flag from historical records present some convincing arguments.
The John Company flag dates back to the 1600s whereas the United States adopted the Stars and Stripes in 1777.
The stripes and gridlike appearance of the flag gave rise to several pieces of imperial slang. Most notably is the phrase 'riding the gridiron'; this referred to travelling on a ship flying the company flag to / from India.Wikipedia
Below is the current naval jack (flag) of Indonesia, which dates to the age of the Majapahit Empire. Majapahit was one of the last major empires in the history of Indonesia and Southeast Asia (1293-1527), and renown for its maritime strength
It is argued that local Malay flags (similar to the Majapahit Empire's flag) were flown during the East India Company's era and inspired its flagThe Majapahit Empire's and East India Company's flag had 9 stripes of red and white
Indonesia's current Naval Flag
dates to the Majapahit Empire Era