Concept:
• The Harappan economy was based on a combination of highly productive agriculture, specialized craft production, and an extensive trade network.
• They possessed advanced technologies in metallurgy, though they were limited to certain types of metals available in the Bronze Age.
Step 1: Analyzing craft and industrial production
Excavations in cities like Chanhudaro and Lothal have provided abundant remains of craft production, including bead-making, shell-cutting, and metal-working.
The presence of specialized tools and raw material waste confirms organized industrial activity. Statement I is correct.
Step 2: Evaluating agricultural technology and metals
The Indus Valley Civilization belonged to the Chalcolithic/Bronze Age.
While they used copper and bronze for tools, iron was completely unknown to them.
Iron tools for agriculture only became common in the later Vedic period (c. 1000 BCE onwards). Statement II is incorrect.
Step 3: Assessing trade and regulation
Harappan seals have been found in Mesopotamia, and Mesopotamian texts mention trade with "Meluhha" (likely the Indus region). This confirms long-distance maritime and land trade. Statement III is correct.
The Harappans also used a highly standardized system of weights (usually in binary and decimal multiples) which suggests a central regulation of trade. Statement IV is correct.
Since I, III, and IV are correct, the answer is option (C).