Economy, asked by SmrutiMohanty, 5 hours ago

Briefly discuss the reason for implementing import substitution and how was it implemented?​

Answers

Answered by shreyalokkesharwani
1

Answer:

The purpose of this policy is to change the economic structure of the country by replacing foreign goods with domestic goods. Post-independence India adopted the policy of import substitution by imposing heavy tariffs on import duty. The industrial policy that the country endorsed was linked to the trade policy.

Explanation:

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