SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India was merely an exporter of which kind of products on the eve of independence
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agricultural products
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Capital goods
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Primary sector products
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None of these
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Explanation:
Detailed explanation-1: -Under the colonial rule, India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, 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.
Detailed explanation-2: -The Indian economy was a backward economy at the time of Independence: → Low Level of Agricultural Productivity: Over 70 percent of total population of India was engaged in agriculture but the total output was very low. → Industrial Sector: There were not many industries and capital was mostly invested by foreigners.
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