Import Substitution is the policy of replacing imported goods with domestically produced ones. India followed this strategy in its early Five Year Plans to protect domestic industries from foreign competition through tariffs and quotas, and to achieve self-reliance.
The Industrial policy closely related to the trade Policy which aimed at replacing imports with domestic production is known as :
CUET UG 2023 — Economics Indian Economic Development
2023mcqeasy
The Industrial policy closely related to the trade Policy which aimed at replacing imports with domestic production is known as :
Official previous-year question
Verified 13 Jul 2026.
Options
- A
Import substitution
- B
Export promotion
- C
Domestic substitution
- D
Export substitution
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