Choose the below statement is True or False.

The business class supported colonial policies that restricted business activities.

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True

False

answer is B.

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Detailed Solution

The above statement is False.
During the First World War, Indian business people made great profits and gained fame. Now that they wanted to expand their business, they rebelled against colonial laws that restricted economic activity. They wanted a rupee-to-sterling exchange rate that would discourage imports as well as protect them from the importation of goods from abroad. To organise economic interests, they established the Federation of the Indian Chamber of Commerce and Industries (FICCI) in 1927 and the Indian Industrial and Commercial Congress in 1920. The industrialists first supported the Civil Disobedience Movement but later challenged British control of the Indian economy. They were led by prominent businessmen like Purshottamdas Thakurdas and G. D. Birla.
The correct statement is that the business classes revolted against colonial rules that hindered business operations.

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