Question

“The Indian government, after
independence, has put many such barriers
on foreign trade and foreign investment.'
Why was this considered necessary ?​

Answer 1

Answer:

Indian government has put barriers to foreign trade and foreign investments after independence because:

• It wanted to protect the producer within the country from foreign competition.
• As the industries were just coming up in 1950’s and 1960’s the competition from inputs at that stage would not have allowed these industries to come up.
• Indian allowed imports of only essential items such as machinery fertilizers, petroleum, etc.

Explanation:

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