Explanation: To understand the context of the statements provided, it is essential to delve into the geography, history, and economic significance of Mumbai, which is a major city in the state of Maharashtra, India.
**Geography and Location:**
Mumbai is located on the western coast of India, on the Arabian Sea, not the Black Sea. The Black Sea is located in Eastern Europe and is not connected to the Indian subcontinent. Therefore, the first statement that Mumbai is a port on the Black Sea is incorrect.
**High Courts:**
High courts in India were established in various cities, including Bombay (now Mumbai), Calcutta (now Kolkata), and Madras (now Chennai). However, the specific year mentioned in the second statement, 1865, is incorrect. The High Court of Bombay was established in 1862, not 1865. Therefore, the second statement is also incorrect.
**Economic Significance:**
Mumbai has a rich history in the cotton industry, earning it the nickname "Cottonopolis." During the 19th century, Mumbai was a major center for cotton trade and processing, playing a crucial role in the British Empire's textile industry. The city's port facilitated the export of raw cotton and the import of machinery and other goods necessary for the textile industry. This historical significance is still recognized today, making the third statement correct.
**Demographics:**
Mumbai is indeed one of the largest cities in India, with a population over 20 million. However, this information is not directly relevant to the statements provided and does not affect the correctness of the options.
In summary, the correct answer is (C) Only 3, as it is the only statement that accurately reflects the historical significance of Mumbai as the "Cottonopolis" of India. The other statements contain inaccuracies regarding the city's location and the establishment of high courts.