Choose whether the given statement is true/false:

Henry Patullo predicted that since no other country produced goods of the same quality, the demand for Indian textiles could never decline.

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Detailed Solution

The above statement is true.
Henry Patullo was an Englishman who worked for the East India Company in India. He predicted that the demand for Indian textiles would not decline as no other country produced goods of the same quality. Persian and Armenian traders transported the products from Punjab to Central Asia, Eastern Persia, and Afghanistan. Hence fine textile bales were transported through the North-West Frontier on camelbacks through mountain passes and deserts. The network of export trade through the sea was supported by a variety of Indian bankers and merchants who supplied exporters, transported commodities, and funded production.
Hence, Henry Patullo predicted that since no other country produced goods of the same quality, the demand for Indian textiles could never decline.

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