Import Substitution Example
An example of import substitution would be:
- Exporting Indian-made vehicles to other countries
- Producing vehicles in India instead of importing from foreign countries — Correct Answer
- Importing vehicles at lower tariffs
- Banning all international trade
Explanation:
Correct Answer Explanation
Instead of importing vehicles from foreign countries, industries would be encouraged to produce them in India.
Key Points:
- This policy aimed at replacing imports with domestic production.
- Government protected domestic industries through tariffs and quotas.
📚 About this Topic — CH-2: INDIAN ECONOMY 1950–1990
This multiple choice question is from CH-2: INDIAN ECONOMY 1950–1990, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-2: INDIAN ECONOMY 1950–1990 to strengthen your preparation.
