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Question : 13
Total: 60
_____ was the objective of Import Substitution policy in India. (Choose the correct alternative)
Solution:
(b) Protection of domestic industries from foreign competition
Explanation: Import substitution is an economic policy that promotes replacing foreign imports with domestic production. Therefore, its main objective is the protection of domestic industries from foreign competiton.
Explanation: Import substitution is an economic policy that promotes replacing foreign imports with domestic production. Therefore, its main objective is the protection of domestic industries from foreign competiton.
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