The correct answer is C. N. Dawar Explanation & Key Takeaways: • In India, Bombay was chosen as the first place where the Bombay Spinning and Weaving Company was to be set up. • It was established by Cowaszee Nanabhoy Davar (A Parsi capitalist) and his associates. • The Bombay Spinning and Weaving Company that was started by Cowaszee Davar promoted the first cotton mill in 1851, but it only became operationalized in 1854. • This initiative embarked on a new phase of the cotton mills. • The failure of the first cotton mill in 1818, gave way for the establishment of a new cotton mill in 1854 in Bombay. • This place was an important financial place with ports facilitating the export of raw cotton from England and China and It is located near a cotton-growing area. • Hence, The first modern cotton mill was established in Mumbai. • The Bombay Spinning and Weaving Company heralded the true foundation of the modern cotton industry in India. • Britain experienced a cotton famine in 1860, which turned upside down the trade-in raw between India and Britain. • This led to an extreme increase in the prices of raw cotton due to the American Civil war. Growth in this decade was very slow. • Today, India is the leading country in cotton producer, 2nd position after China. • The Indian cotton industries faced challenges, like cheap imported British cotton. Along with Mumbai, Ahmedabad is also a major hub of the cotton industry.