India could not develop a sound industrial base under the colonial rule. During the second half of the nineteenth century, modern industry began to take root in India but its progress remained very slow. Identify the incorrect statement in this context.

Question

Option 1: There was hardly any capital goods industry to help promote further industrialisation in India.

Option 2: There was very limited area of operation of the public sector.

Option 3: There was a generation of a large export surplus through the colonial period.

Option 4: The export surplus resulted in huge inflow of gold or silver into India.

AfterBoards · Accepted Answer

The answer is 'The export surplus resulted in huge inflow of gold or silver into India.'. View full solution:

CUET Economics 2026 19th May Shift 2 PYQs

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