Which of the following statements are <strong>CORRECT</strong>?<br>1. British 'trade surplus' with India in the nineteenth century meant that the value of British exports to India was much higher than the value of British imports from India.<br>2. India played a crucial role in the late-nineteenth-century world economy by helping Britain balance its deficits.<br>3. Britain grew opium in India and exported it to China and, therefore, for a while after the 1820s, opium became India's single largest export.<br>4. The nineteenth century saw export of Indian raw materials decline, and that of manufactured goods increase.<br>Select the answer using the code given below :

  1. A. 1 and 2 only
  2. B. 3 and 4 only
  3. C. 1, 2, 3 and 4
  4. D. 1, 2 and 3 only ✓

Correct Answer: D. 1, 2 and 3 only

Explanation

Britain used its 'trade surplus' from India to balance its trade deficits globally. Opium was indeed the single largest export to China. Statement 4 is incorrect as raw material exports increased while manufactured goods declined due to deindustrialisation.

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