With reference to the Industrial Revolution, consider the following statements : 1. The Industrial Revolution saw the replacement of handicrafts by power-driven machinery. 2. The industrialised countries became dependent upon other countries for the supply of raw materials necessary for their industries. 3. Large-scale production started with the help of machinery in factories. Which of the statements given above are correct?

All three statements are correct. The Industrial Revolution (beginning in 18th-century Britain) involved the replacement of handicraft production by power-driven machinery (such as the spinning jenny, power loom, and steam engine). Industrialised European countries became dependent on colonies and other regions for raw materials like cotton, jute, rubber, and minerals to feed their factories, leading to colonial exploitation. Large-scale factory-based production replaced small-scale cottage and artisanal industry, transforming both economy and society.