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What was the reason for putting trade barriers to foreign trade and foreign investment by the government

Posted by Rupesh Banne 7 years, 1 month ago

CBSE > Class 10 > Social Science

3 answers

Meghalina Chakraborty 7 years, 1 month ago

1.It was considered neccessary to avoid competition from exports to protect the producers within the country . 2. Factories were just coming up in the 1950s and 1960s,competition from exports would not have allowed these industries to come up.

1Thank You

Yogita Ingle 7 years, 1 month ago

Just after independence in 1947, this step was considered necessary to protect the producers within the country from foreign competition. Only important items such as machinery, fertilizers and petroleum were imported. In 1991, the Government of India liberalized its policy and felt that Indian producers must compete with producers around the world. The government was of the opinion that competition would improve the performance of the local producers within the country since they will be forced to improve their quality. Thus the government wished to remove these barriers.

1Thank You

Pratibha K 7 years, 1 month ago

Barriers to foreign trade and investment were put by the Indian government to protect domestic producers from foreign competition.

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