Question

What is tariff policy? How did it affect the Indian Foreign Trade?

Answer 1

Answer:

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Explanation:A tariff is a tax on imports or exports between sovereign states. It is a form of regulation of foreign trade and a policy that taxes foreign products to encourage or safeguard domestic industry.

Answer 2

Tariff Policy

The tariff policy pursued by the British government was also responsible for the decay of handicrafts. The tariff policy allowed for 'one-way free trade'. In 1813, strategies were devised by the Company to enhance the consumption of finished goods from Britain. In this respect the tariff and octroi policies were suitably modified to suit the British commercial interests. To put her manufacturing industries on a sound footing at home, England pursued the policy of protection through the imposition of import duties.