Why is tax on imports known as trade barrier why did the Indian government impose barrier to foreign trade and investments after independence give three reasons
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Tax on imports goods known as trade barriers because restriction has been set up for import goods from foreign companies by the government .
The Indian government impose trade and foreign investments after independence because of following reasons ;
● To protect the producers within the country from foreign competition .
● Industries were coming in 1950 & 1960s and competition from imports goods at that stage were not allowed industries were come up.
● Indian producers were not capable to compete with producers around the globe.
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