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Reasons for import substituion..?

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Reasons for import substituion..?
  • 3 answers

Tanay Bhutda 5 years, 8 months ago

1) self reliance To avoid foreign interference Foreign dependency 2) save precious forex 3) protect and promote domestic industry

Rishabh Singhal 5 years, 8 months ago

For example, instead of importing vehicles made in a forign country, domestic industries would be encouraged to produce them in india itself.

Rishabh Singhal 5 years, 8 months ago

In the first seven plans, trade was characterised by an inward looking trade strategy. Technically, this strategy is called 'import substitution'.
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