Explanation: The Swadeshi spirit also found expression in the establishment of swadeshi textile mills, soap and match factories, tanneries, banks, insurance companies, shops, etc.

• These enterprises were based more on patriotic zeal than on business acumen.
• O. Chidambaram Pillai’s venture into a national shipbuilding enterprise—Swadeshi Steam Navigation Company—at Tuticorin, however, gave a challenge to the British Indian Steam Navigation Company.

Source: Spectrum Modern India