Question

The policy of import substitution was adopted with Which of the following objectives? *

1 point

Saving foreign exchange

Achieving self -reliance

Industrialization

All of the above

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Answer 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.

Answer 2

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.