Choose the statement as true or false.

The first modern cotton mill was established in Mumbai.

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Detailed Solution

The above statement is true.
The first modern cotton mill, The Bombay Spinning and Weaving Company, was chosen as the first location for its establishment. A Parsi entrepreneur named Cowaszee Nanabhoy Davar and his friends founded it. A new spinning mill was established in Bombay in 1854 due to the first spinning mill in 1818. This location was a significant financial hub with a port that made it easier to export unprocessed cotton from China and the United Kingdom. The true foundation of India's contemporary cotton industry was established by the Bombay Spinning and Weaving Company. Cheaply imported British cotton was one of the problems the Indian cotton industry had to deal with. Ahmedabad, in addition to Mumbai, is a significant hub for the cotton industry.

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