Choose whether the given statement is true/false:

To organise business interests, peasants formed the Indian Industrial and Commercial Congress in 1920.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Indian industrialists, not peasants, launched the Indian Industrial and Commercial Congress in 1920 to organise their economic interests. They generated huge profits during the First World War. They now reacted against colonial regulations that limited economic activity since they were eager to grow their company. They desired protection from foreign goods imports and a rupee-to-sterling exchange rate that would discourage imports. Hence, they launched the Indian Industrial and Commercial Congress around 1920 to organise economic interests.
The correct statement would be to organise business interests; Indian industrialists formed the Indian Industrial and Commercial Congress in 1920.

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