Question

why had indian govenrment put barriers to foreign trade and foreign investment after independence ? explain .

Answer 1

(i) To protect the domestic producers within the country from foreign competition.

(ii) The competition from importers would have crippled the new born industries of India.

In such a situation, imports of only such commodities were allowed which were quite necessary such as machinery, fertilisers, petroleum etc.

(iii) During 1950s and 60s, competition from imports was giving a death’blow to growing industries in India.

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Answer 2

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