Economics · Economy
Which reform best represents India's shift from import substitution to an export-oriented trade policy after 1991?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1State monopolization of all trade involving essential commodities
- 2Introduction of quantitative import restrictions and customs controls
- 3Complete closure of EPZs (Export Processing Zones) due to WTO compliance
- 4Shift to a unified exchange rate system and incentives for export production✓
Correct answer
Shift to a unified exchange rate system and incentives for export production
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