Questions

'and made India' should be used to make the sentence grammatically correct. You use 'made' when referring to things already done in the past.'Make' is present and its continuous its still been done unlike 'made' which refers to what has been done

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Lothal

It develops in a region of  moderate rainfall and limited evaporation. It is agriculturally a poor soil but addition of lime and fertilizers would yield favourable results. Found extensively in northern Canada and northern Russia.

Hedging is a tool to minimize the risks. It is thus like an 'insurance' where one pays a premium but gets an assured amount in case of some uncertain event to the extent of the loss actually suffered on an equally opposite position for which the hedge was done. Thus, hedger is different from arbitrageur and speculators, as the intention here is not to maximize the profit but to minimize the loss.

E.g. In Capital Markets, suppose an investor has an equity portfolio of Rs. 2 lacs and the portfolio consists of all the major stocks of NIFTY. He thinks the market will improve in the long run but might go on a downside in the shortrun. NIFTY today stands at 4300. To minimize the risk of downfall, he enters into an option contract by buying NIFTY-PUT of strike 4300 at a premium of, say, Rs. 100. Thus, the actual amount paid is Rs. 5,000(lot size of NIFTY is 50). Also, the number of NIFTY-PUTs to be bought will vary on the beta of the portfolio so as to completely hedge the positon. 

When backed by buying, power wants become demands.