Which of the following statements are correct? 1. British 'trade surplus' with India in the nineteenth century meant that the value of British exports to India was much higher than the value of British imports from India. 2. India played a crucial role in the late-nineteenth-century world economy by helping Britain balance its deficits. 3. Britain grew opium in India and exported it to China and, therefore, for a while after the 1820s, opium became India's single largest export. 4. The nineteenth century saw export of Indian raw materials decline, and that of manufactured goods increase. Select the answer using the code given below:

British 'trade surplus' with India in the nineteenth century did mean that British exports to India exceeded British imports from India — Statement 1 is correct. India's trade surplus with other countries helped Britain balance its multilateral payment deficits with the rest of the world in the late nineteenth century, so Statement 2 is correct. Britain grew opium in India and exported it to China; opium became one of India's largest exports for a period after the 1820s, so Statement 3 is correct. However, in the nineteenth century India's exports of raw materials (cotton, indigo, jute, opium, etc.) increased while exports of Indian manufactured goods (notably textiles) declined as Britain de-industrialised India — exactly the opposite of Statement 4, which is therefore incorrect. Hence statements 1, 2 and 3 only are correct.