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India's share in cotton textile exports declined as British manufactured textiles increasingly dominated markets.
British machine-made cotton textiles were cheaper and competed strongly with Indian hand-produced textiles.
Increase = 25% − 5% = 20 percentage points.
Industrial demand, particularly from textile manufacturing, increased the demand for raw cotton.
Multilateral settlement allows payments arising from trade among several countries to be settled through an interconnected system.
The First World War caused enormous loss of life, with about 15 million people killed or injured.
The United States emerged as an important creditor because European countries borrowed heavily from it during and after the war.
1 out of 5 = 1/5 × 100 = 20%.
Excess supply of wheat contributed to a sharp fall in agricultural prices.
Increase = 10 million. Percentage increase = (10 ÷ 10) × 100 = 100%.
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