Which problem is faced by India due to inward looking trade policy?
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Inward looking trade strategy is also known as import substitution. Its main aim is to produce goods domestically which are imported to our nation. Here, the government protects the domestically produced goods from foreign competition. This policy protects imports in two forms, tariffs and quota.
bad impacts of inward looking trade strategy on the domestic
LACK OF COMPETITION implied lack of modernisation. ...
indiscriminate spread of public sector enterprises. ...
economically unviable state enterprises- a political compulsion. ...
introduction. ...
growth of inefficient public monopolies. ...
group-d. ...
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