Choose the given statement as true/false:

Shikaripuri shroffs and Nattukottai Chettiars were Indian bankers and traders.

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Detailed Solution

The given statement is true.
The capital requirement was huge when the crops were cultivated, aiming for the world market. All these financial needs were met with the help of bankers and markets. Shikaripuri shroffs and Nattukottai Chettiars were such Indian traders and bankers. They financed the export of agriculture in Central and Southeast Asia. They had a systematic way of transferring the money across a large distance. Some of the Indian traders even followed the European colonies into Africa. For example, Hyderabadi Sindhi dared to expand their business beyond European colonies. From 1860 it flourished across the busy ports, selling local and imported products to tourists. They became a wheel in the smooth running of the world market.

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