GENERAL KNOWLEDGE

Detailed explanation-1: -Answer: At the time of independence, India was an exporter of primary products; like raw silk, cotton, wool, sugar, indigo, etc.

Detailed explanation-2: -Though agriculture was the main source of livelihood for most people, yet, the country’s economy was characterised by various kinds of manufacturing activities. India was particularly well known for its handicraft industries in the fields of cotton and silk textiles, metal and precious stone works etc.

Detailed explanation-3: -Thus, at the time of independence in 1947, India was a poor and underdeveloped country. At that time, agriculture was in a poor condition and mineral resources were not fully used. There were only a few industries and many of the cottage and small-scale industries had declined under the British rule.

Detailed explanation-4: -India became an exporter of primary products such as raw silk, cotton, wool, jute etc. and an importer of finished consumer goods like cotton, silk and woollen clothes and capital goods like light machinery produced in the factories of Britain.