Economics · Economic Reforms
What was a primary objective behind the drastic reduction of customs duties during the 1991 economic reforms in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Encouraging stricter import substitution policies
- 2Promoting exports and integration with the global market✓
- 3Increasing short-term tariff revenue only
- 4Protecting domestic industries from competition
Correct answer
Promoting exports and integration with the global market
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