Verified Answer :

genus gossypium is one type of plant, most likely the one you are describing but there is also another plant called flax a blue-flowered plant that is cultivated for its seed (linseed) and for textile fiber made from its stalks.

Answer:

The given statement is true.

Cotton is a type of fiber obtained from plants belonging to the genus Gossypium under family Malvaceae.

Cotton plants are shrubs in nature mainly found in tropical and subtropical regions including India, Egypt, Africa, and the America.

Cotton fibers are inexpensive, light weight, and are used to make wide varieties of fabrics such as voiles, laces, sailcloths, velveteens, home furnishings, wearing apparel, and industrial uses.