When did Indian businessmen begin setting up industries in India?

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An Intiative by Sri Chaitanya

Early 19th Century

Late 19th Century

In 1906.

None of the above

answer is B.

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Detailed Solution

The Indian businessmen began to set up in industries in India in the late 19th century. The early industries were cotton industries which were not set up to compete against the Manchester goods rather they avoided competing against these Manchester products. The major production of Indian cotton mills was cotton coarse yarn threads. Apart from cotton textile Indian industries, there were also established institutions like banks, iron and steel and shipping industries. Another factor that accelerated the speed of establishing Indian industries was the Swadeshi Movement which proclaimed to Indians to use Indian products and thus show lineage towards the Indian National Independence movement.

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