WORLD WAR II
DECOLONIZATION PHASE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A large oil industry that was nationalized, leading to a large income for the government
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The low cost of labor drew many foreign investors.
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Lax environmental laws allowed Indian investors to build factories cheaply
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A large, educated middle class allowed India to develop as a software and information technology “powerhouse.”
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Detailed explanation-1: -Britain’s political control of India was of paramount importance in the context of the growth of the cotton industry in Britain. India was also an important market for machinery (£4.5 million out of £33.6 million in 1913) and locomotives and railway carriages (£2.2 million out of £7.0 million in 1913).
Detailed explanation-2: -India is one of the world’s largest economies and is currently at rank 5. If this is calculated per inhabitant, taking purchasing power parity into account, then India ranks 129th in the list of the richest countries. Inflation in India in 2021 was around 5.13%.
Detailed explanation-3: -During the colonial period, India became the exporter of jute, cotton, sugar, indigo, wool, etc. and importer of finished products such as cotton and silk fabrics, woollen cloth, machinery, and other items.