Question

what is inward looking trade policy how relevant it is in the context of growth and development

Answer 1

Heya....

Inward Looking Trade Strategy...

It refers to the policy of reliance import substitution and protection to domestic industries through import restrictions and import duties in the area of international trade...

It is a strategy to save foreign exchange by encouraging domestic production of such goods which in the country have been importing..

It's relevance in economy...

** High rate of industrial growth with structural transformation...

** Diversification of industrial growth...

** Opportunities of investment...