Economics · Trade Policy & Industrialisation
With reference to Import Substitution Industrialisation Strategy (ISI), consider the following statements: I. It sought to reduce external dependence by promoting domestic production of goods that were otherwise being imported. II. It generally relied on high tariff protection, quantitative restrictions and state support for domestic industry in its formative phase. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither I nor II
- 2Both I and II✓
- 3II only
- 4I only
Correct answer
Both I and II
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