Choose whether the given statement is true/false:

The Indian National Movement affected the Indian entrepreneurs.

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Detailed Solution

The above statement is correct.
The early Indian entrepreneurs established industries in the 19th century after accumulating capital through trade. But they faced immense hardships and could not retain themselves for a long time. However, the Indian National movement rejuvenated the old desire and presented a new spark in the industrialists. During the Swadeshi movement, a call for a boycott of British goods was put forward. As a result, British imports declined by half. Thus, stimulation was provided to the Indian industries to manufacture goods for the local market. As a result, the industrialist groups experienced a sense of collectiveness. The groups pressured the government to increase tariff protection to protect the competition.
Hence the Indian National Movement affected the Indian entrepreneurs.

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