The colonial government's economic policies were focused on → protecting their home country's interests, with the main goal being to benefit Britain.
Not option 1, as the colonial government did not promote handicraft industries
Not option 2, as there is no mention of small scale industries being promoted
Not option 3, as it was not a joint effort to promote Indian industries → but rather to benefit their home country
Option 4 is correct, as the colonial government's primary concern was to provide protection and promotion of the economic interests of their home country