History · Economic History of Modern India
Consider the following statements regarding the economic transition from Merchant Capitalism to Industrial Capitalism in India: I. Under merchant capitalism, British trade focused on importing Indian manufactured goods like cotton textiles to Europe. II. Industrial capitalism required converting non-industrialised colonies into raw material exporters and industrial product importers. III. The changing trade pattern led to the abolition of the East India Company's monopoly over Indian trade in 1813. IV. India's transformation into an importer of English textiles manifested during the early 18th century. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, II and IV Only
- 2I, III and IV Only
- 3II, III and IV Only
- 4I, II and III Only✓
Correct answer
I, II and III Only
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for History?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Economic History of Modern India MCQs →Want more practice questions on Economic History of Modern India?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in History · Economic History of Modern India