explain the inward looking trade strategy followed in india after inde – InterviewSolution

1.	explain the inward looking trade strategy followed in india after independence. what are its benefits and drawbacks (5marks)
Answer» Inward looking trade STRATEGY is also known as import substitution. ... TARIFFS are imposed on imported goods to make the goods more EXPENSIVE which will reduce their USE. Quotas provide the quantum of goods which can be imported. Hence, this policy protects the domestically PRODUCED goods from foreign competition.

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