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How import substitute proved to be …

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How import substitute proved to be insufficient policy

Posted by Abhay Kumar Yadav 5 years, 7 months ago

CBSE > Class 12 > Economics

1 answers

Sneha Manchanda 5 years, 7 months ago

Due to the import substitution policy Indian producers were free to charge as much as they could from consumers. As well as consumers were bound to purchase whatever indian producers produces. And also the quality of the produced products were too bad and producers were not bound to correct that due to absence of competition. The result was only that the consumers were under the power of producers. Producers were gaining profit and consumers were getting law quality products in return.

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