manufacturing sector in India
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 […]
“Overemphasis on services and neglect of the manufacturing sector can turn India’s demographic dividend into disaster.” Comment.