Which of the following is true with respect to the impact of the Great Depression in India?

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Due to depression India's exports and imports were nearly halved from 1928 to 1934

Industrial investment grew in India

Urban India suffered more than the rural india

None of these

answer is A.

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Detailed Solution

(i)Indian trade was immediately impacted by the downturn. Between 1928 and 1934, India's exports and imports almost halved. India's prices fell along with those throughout the world.

(ii) Farmers and peasants experienced more hardship than city dwellers. The hardest hurt was the peasants who produced goods for the global market. Farmers who took out loans in the hopes of better times or to enhance production in the hopes of earning more money faced ever-rising prices and grew more and more indebted.

(iii) During the Great Depression, India started exporting precious metals, particularly gold. This undoubtedly accelerated Britain's recovery, but it had little impact on Indian peasants.

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