Question

Imports of which products were allowed during 1950s nd 1960s? Why? ​

Answer 1

Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production.[1] It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List[2] and Alexander Hamilton.[3]