In which year did British India witness the famous 'Cotton Boom'?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 1861
The cotton boom began in 1861: when the American Civil War broke out that year, raw cotton imports from America into Britain fell to less than three per cent of the normal, and frantic messages were sent to India to increase cotton exports to Britain.
NCERT (2026-27): “3.4 Then came the cotton boom … Before the 1860s, three-fourths of raw cotton imports into Britain came from America. British cotton manufacturers had for long been worried about this dependence on American supplies. What would happen if this source was cut off ? Troubled by this question, they eagerly looked for alternative sources of supply.… …When the American Civil War broke out in 1861, a wave of panic spread through cotton circles in Britain. Raw cotton imports from America fell to less than three per cent of the normal: from over 2,000,000 bales (of 400 lbs each) in 1861 to 55,000 bales in 1862. Frantic messages were sent to India and elsewhere to increase cotton exports to Britain. In Bombay, cotton merchants visited the cotton districts to assess supplies and encourage cultivation. As cotton prices soared (see Fig. 10.15), export merchants in Bombay were keen to secure as much cotton as possible to meet the British demand.…” |