How the development of cotton industries in Britain affected textile producers in India in the colonial period? Very high duties were imposed on Indian textiles imported into Britain. English-made cotton textiles ousted Indian goods from their traditional markets in Africa, America, and Europe. An export promotion obligation was imposed on domestic cotton textiles in India which increased imports at the expense of exports. Select the correct answer using the codes below

How the development of cotton industries in Britain affected textile producers in India in the colonial period? Very high duties were imposed on Indian textiles imported into Britain. English-made cotton textiles ousted Indian goods from their traditional markets in Africa, America, and Europe. An export promotion obligation was imposed on domestic cotton textiles in India which increased imports at the expense of exports. Select the correct answer using the codes below Correct Answer 1 and 2 only

The correct answer is Option 1, i.e 1 and 2.

  • Exporting textiles to England also became increasingly difficult since very high duties were imposed on Indian textiles imported into Britain. So, 1 is correct.
  • After the development of British textile industries, Indian textiles had to compete with British textiles in the European and American markets. British slowly displaced traditional Indian markets. So, 2 is correct.
  • No such export promotion obligations were put. They would have actually hurt British interests. So, 3 is incorrect.
  • By the beginning of the nineteenth century, thousands of weavers in India were now thrown out of employment. Bengal weavers were the worst hit.
  • English and European companies stopped buying Indian goods and their agents no longer gave out loans and advances.

Related Questions

In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested course of action logically follow (s) for pursuing. Statement: Commerce and industry minister Suresh Prabhu will next week review sector-specific strategies to increase India’s exports 20% this year amid an uncertain global trade environment and credit availability. The ministry has identified nine sectors, including gems & jewellery, leather, textiles, agriculture and pharmaceuticals, to drive India’s exports to $400 billion in the next five years. These sectors accounted for $242 billion or 80% of the country’s total exports of $302 billion in 2017-18. Courses of action: I. The minister will review the action plans on October 1. This is in continuation of the series of meetings that he has had with export promotion councils and secretaries of line ministries concerned. II. Besides export promotion councils, the minister will separately meet officials of other departments concerned.  III. Exporters have raised concerns over the slack flow of credit to exporters, high goods and services tax on gold and strict pollution norms for chemicals, besides currency fluctuations, citing these factors as hindrances to export growth. Prabhu recently wrote to finance minister Arun Jaitley, requesting his intervention to improve bank credit flow to the export sector.