Choose the given statement is true or false;

The early industrialist helped shape the industrial development of India

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True

False

answer is A.

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Detailed Solution

The above statement is true;
Early entrepreneurs developed massive companies by gaining funds through commercial activities. They were active in the opium trade with China and other commercial routes to Burma, the Middle East, and East Africa. These industries shaped India's development as follows. The industries produced superior quality coarse yar that was imported to China. Finished goods were not permitted to be exported. The yarn was not a major British export. As a result, the industry chose a middle path to profit. As nationalist feelings grew, indigenous industries were encouraged to compete with British goods.

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