Is it true that the cost of raw cotton skyrocketed as India's raw cotton exports rose?

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

It is true that the cost of raw cotton skyrocketed as India's raw cotton exports rose. Following are the issues that Indian cotton weavers encountered in the middle of the nineteenth century:
1)      Indian exports of textiles decreased dramatically. As a result of the flood of Manchester imports, the local markets shrank.
2)      The hand-spun cotton fabrics prepared by Indian weavers could not readily compete with the imported cotton goods since they were produced by machines at lower costs and sold for such low prices.
3)      Britain resorted to India when the American Civil War broke out and halted US cotton imports. The cost of raw cotton skyrocketed as India's natural cotton exports rose.
4)      Indian weavers were forced to pay high costs for raw cotton due to a lack of supplies. Weaving could not be profitable in this case.

Watch 3-min video & get full concept clarity