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Solution -
1.The above inference talks about the period of great depression that took place in 1929. It talks of how the Indian export and import fell when the great depression occured .
2.Britain held the monopoly over India’s imports and exports. Therefore, most of the foreign trade was restricted only to Britain, while the rest half was allowed to trade with other countries like Ceylon (Sri Lanka), China, and Persia (Iran).
India was a large exporter in the colonial period. However, it did not affect the country’s economy. Commodities like food grains, clothes, kerosene, etc., hit the country hard with its scarcity.
3.The Great Depression was a severe economic crisis that started in the year 1929. It originated in the United States of America with the crash of the stock market and gradually spread to other countries of the world. Despite the widespread effects of great depression two industries like the alcohol and entertainment industries doesn't experience any effect of the great depression.

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