What were the two broad objectives of the policy of import substitution in India?

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Solution

Two broad objectives of import substitution policy were:

(i) To save scarce foreign exchange for the import of more important goods, and (ii) To achieve self-reliance in the production of as many goods as possible.

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III. Import oriented companies are affected by government policies.
IV. Exporting of goods get affected by government policies.

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What were the two broad objectives of the policy of import substitution in India?

Two broad objectives of import substitution policy were: (i) To save scarce foreign exchange for the import of more important goods, and (ii) To achieve self-reliance in the production of as many goods as possible.

Two broad objectives of import substitution policy were:

(i) To save scarce foreign exchange for the import of more important goods, and (ii) To achieve self-reliance in the production of as many goods as possible.