2015 · Q86
Which one of the following statements with regard to India's economy between 1814 to 1860 is not correct?
General KnowledgeHistory of India
- ABetween 1814 and 1850, four commodities dominated India's exports—raw silk, opium, cotton and indigo.
- BBetween 1814 and 1860, five commodities dominated India's exports—raw silk, opium, cotton, indigo and jute.
- CIndigo and raw silk required processing techniques.
- DIndigo and raw silk were financed by foreign capital.
Explanation
Between 1814 and 1850, four commodities dominated India's exports — raw silk, opium, cotton, and indigo — as documented in standard economic histories of the period. Jute became a major export only much later: its export value was a mere £68,000 in 1849, growing to £8.6 million by 1914. The claim that five commodities including jute dominated exports during 1814–1860 is therefore the incorrect statement. Hence B.