Import substitution Current Affairs, GK & News
Import substitution is an aggressive economic policy employed by emerging economies to promote domestic production and self-sufficiency in many sectors. It is also seen as a means to reduce dependency on developed nations. IS seeks to provide added protection to domestic industries via tariffs, import quotas, government loans at subsidised rates of interest. This encourages ..
The Strategy Paper of the Ministry of Commerce has outlined measures to bridge the trade deficit with China. India’s Trade Deficit with China Over the last decade, India’s trade deficit with China had increased rapidly. But the deficit narrowed in fiscal 2019 since exports to China increased by 25.6 per cent and the imports declined ..