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Indian Economy 1950-1990

Question

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Write down the advantages of import substituting industrialisation.

Solution

Advantages of import substituting industrialisation:
1. It helped in saving foreign exchange by drastically reducing imports of goods.

2. It creates a protected market and large demand for domestically produced goods.

3. It helped in solving unemployment problem.

4. It helped in building a strong industrial base in our country which directly led to economic growth.

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