The early industries were established by businessmen due to which of the following?

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Money earned by labour.

Involvement in Trade.

Ancestral capital.

None of the above.

answer is B.

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Detailed Solution

The early industries were established by businessmen due to Involvement in Trade.
The early entrepreneurs in India are considered to have been those who earned their fortune through the China Trade. China trade refers to the trade in opium carried by British merchants from India to China. It reaped huge profits for the traders. The Indian businessmen are considered to have been involved in the trade as junior players. They later established industries from the profits earned through trade. Example: Dwarkanath Tagore established six joint stock companies in the 1820s and 1830s. The other trade routes that reaped huge benefits were those with Burma, the Middle East, and East Africa. The traders accumulated capital and when opportunities opened up, they established factories.

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