Choose given statement is true/false:

During the First World War, Indian industrialists suffered huge losses.

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True

False

answer is B.

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Detailed Solution

The above statement is False.
The First World was an opportunity for Indian traders to make a comeback. The full focus of the British was on the war, which resulted in a decline in imports from Manchester. Earlier, the Indian market was flooded with foreign products, but this import decline created a void in the Indian market. Indian products filled this void. Additionally, the Indian industries had to meet the needs of the British Army, such as jute bags, cloth for uniforms, boots, etc. Therefore, new industries in India were set up to meet these needs, generating employment opportunities. The correct statement would be that Indian industrialists made profits during the First World War.

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