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Question
Which of the following statement is not true about the need for import substitution for Indian economy?
Options
Unfavourable balance of trade.
Devaluation of rupee.
Abundance of foreign aid.
Shortage of essential commodities.
MCQ
Solution
Abundance of foreign aid.
Explanation:
Import substitution industrialization (ISI) is a trade and economic policy that proposes substituting home output for international imports in order to protect domestic industry. As a result, no external help was required.
shaalaa.com
Trade Policy: Import Substitution
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