Question

Identify the incorrect option. Early entrepreneur of India:
(a) Dwarkanath Tagore of Bengal
(b) Seth Hukumchand of Calcutta
(c) Bhai Bhosle of Bombay
(d) Dinshaw Petit and Jamsetjee . Nusserwanjee—Parsis of Bombay.

Answer 1

THE CORRECT ANSWER IS (C) BHAI BHOSLE OF BOMBAY IS NOT THE EARLY ENTREPRENEUR OF INDIA.

Answer 2

(c) Bhai Bhosle of Bombay (he was a trade unionist)

Explanation:

• Many business organizations have a long history of trading with China.The British began to export opium to China in India from the late eighteenth century, and brought tea from China to England. Many Indians became junior players in this business, supplies, shipment, and providing finance. Some of these entrepreneurs, having earned a living from trading, had dreams of establishing industrial companies in India
• Dwarkanath Tagore made his fortune in the trade of China in 1830s and 1840s in Bengal before going to industrial investments. The companies of Tagore and others failed with in the larger market crises of the 1840s, but many China traders became successful industrialists later in the nineteenth century.
• In Bombay the initial wealth of Parsis such as Dinshaw Petit and Jamsetjee Nusserwanjee Tata, who established huge industrial empires in India, was accumulated, partly, by exports to China and in part by raw cotton shipments into England. In 1917, the first Indian jute mill in Calcutta was set up by Seth Hukumchand, a Marwari businessman, and he also traded with China. So did the father and grandfather of the well-known industrialist G.D. Birla.
• Capital was accumulated through other trade networks. Some Madras merchants were trading with Burma while others were linked with the Middle East and East Africa. There were also others, but they didn't specifically engage in international exchange. They traded in India, transported commodities from one location to another, banking funds, transferring funds from cities to traders. Many of them set up factories when opportunities for investment in industry opened.