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Q.

Choose the given statement as true/false:

The first jute mill was set up by a Marwari businessman.

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Detailed Solution

The above statement is true;
The first Indian jute mill was established in Calcutta in 1917 by Marwari industrialist Seth Hukumchand, who also conducted business with China. So did the renowned industrialist G.D. Birla's father and grandfather. Seth Hukam Chand became one of the nation's top businessmen by engaging in extensive commodity speculation and ready trading. He was regarded highly even in certain foreign nations and was referred to as the "Cotton Prince of India." He was renowned both in India and abroad. In his honour, even the New York Cotton Exchange was closed for two days after his passing. His offices were in well-known Indian cities.

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Choose the given statement as true/false:The first jute mill was set up by a Marwari businessman.