what was the reason for putting barriers to foreign trade and foreign investment by the Indian government. why did it wish to remove these barriers
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- to protect the local producers from stiff competition.
- industries were just coming up in the 19th century.
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ᴘᴏsᴛ-ɪɴᴅᴇᴘᴇɴᴅᴇɴᴄᴇ ɪɴᴅɪᴀ ᴘᴜᴛ ʙᴀʀʀɪᴇʀs ᴏɴ ɪᴛs ғᴏʀᴇɪɢɴ ᴛʀᴀᴅᴇ ᴀs ᴛʜᴇ ɪᴍᴘᴏʀᴛs ʜᴀᴅ ᴇxᴄᴇᴇᴅᴇᴅ ᴇxᴘᴏʀᴛs ᴀɴᴅ ᴛʜᴇ ᴄᴏᴜɴᴛʀʏ ᴡᴀs ɪɴ ᴀ ʜᴜɢᴇ ᴅᴇʙᴛ. ᴛᴏ ʀᴇᴠᴇʀsᴇ ᴛʜᴇ ᴅᴇʙᴛ ᴀɴᴅ ɪᴍᴘʀᴏᴠᴇ ᴛʜᴇ ᴄᴏᴜɴᴛʀʏ’s ғɪɴᴀɴᴄɪᴀʟ ᴄᴏɴᴅɪᴛɪᴏɴ ᴛʜᴇ ɢᴏᴠᴇʀɴᴍᴇɴᴛ ᴅᴇᴄɪᴅᴇᴅ ᴛᴏ ᴍɪɴɪᴍɪᴢᴇ ɪᴛs ɪᴍᴘᴏʀᴛs ᴀɴᴅ ғᴏʀᴇɪɢɴ ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴀɴᴅ ᴍᴀxɪᴍɪᴢᴇ ᴇxᴘᴏʀᴛs.
ɪɴ ᴛʜᴇ ʀᴇᴄᴇɴᴛ ᴘᴀsᴛ ᴛʜᴇ ɢᴏᴠᴇʀɴᴍᴇɴᴛ ᴅᴇᴄɪᴅᴇᴅ ᴛᴏ ʀᴇᴍᴏᴠᴇ ᴛʜᴇsᴇ ʙᴀʀʀɪᴇʀs sᴏ ᴛʜᴀᴛ ᴛʜᴇ ʟᴏᴄᴀʟ ᴘʀᴏᴅᴜᴄᴇʀs ɪᴍᴘʀᴏᴠᴇ ᴛʜᴇɪʀ ϙᴜᴀʟɪᴛʏ ᴏғ ᴘʀᴏᴅᴜᴄᴛs ᴀɴᴅ ᴍᴀᴛᴄʜ ᴛʜᴇ ɪɴᴛᴇʀɴᴀᴛɪᴏɴᴀʟ sᴛᴀɴᴅᴀʀᴅs.
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