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Indian merchants played an important role in the growth of industries in the 19th century.

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Detailed Solution

The above statement is True.
Indian merchants played an important role in the growth of industries in the 19th century. The British in India started importing tea from China and exporting opium to China. In this trade, many Indians took on minor roles as financiers, suppliers, and shippers of shipments. Some of these businessmen dreamed of creating industrial firms in India after making their money through commerce. Dwarkanath Tagore established six joint-stock firms in Bengal during the 1830s and 1840s after making his money in the China trade. Parsis in Bombay went on to build enormous industrial empires in India, like Dinshaw Petit and Jamshedjee Nusserwanjee Tata.

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