Assertion (A): European Managing Agencies, which dominated industrial production in India, were interested in certain products.
Reason (B): They established tea and coffee plantations, acquired land cheaply from the colonial government and invested in mining, mining, indigo, and jute.

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An Intiative by Sri Chaitanya

Both (A) and (R) are true, and (R) is the correct explanation of (A).

Both (A) and (R) are true, and (R) is not the correct explanation of (A).

(A) is correct, but (R) is wrong.

(A) is wrong, but (R) is correct.

answer is A.

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Detailed Solution

Both assertion and reason are true, and the reason is the correct explanation of assertion.
Andrew Yule was a European managing agency that dominated industrial production in India. These agencies mobilised capital, founded joint-stock companies, and managed them. In most instances, Indian financiers provided the capital while European agencies made all investment and business decisions. Thus European managing agencies controlled an oversized sector of Indian industries. Three of the largest ones were: Bird Heiglers & Co., Andrew Yule, and Jardine Skinner & Co. 2. They aided in acquiring land at cheap rates from the colonial government and established tea and coffee plantations. In addition, they invested money in mining, indigo, and jute. Most of those products were used for export trade.

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