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Pre and Post Liberalisation

Prior to the ...

Question

Prior to the economic reform, which of the following strategies was used by India to restrict international trade with other countries?

A

Trade barriers

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B

Trade ban

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C

Exporting ban

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D

Protection trade

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Solution

The correct option is A Trade barriers
Before 1991, to support the domestic producers and protect them from foreign competition, India practised certain restrictions in trade by imposing trade barriers. These are the trade policies designed to restrict international trade with other countries. Imposing heavy taxes and quotas are some examples of trade barriers.

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