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Why was import substitution policy adopted in newly independent countries?

Answer and explanation

Correct answer: To develop domestic industry and reduce dependence on foreign goods

The aim of import substitution was to increase domestic production. For exams connect it with post independence economic policy.

Related tags

Import-SubstitutionDomestic-IndustryEconomic-PolicyColonization And DecolonizationWorld HistoryGeneral KnowledgeClass 10 Mcq

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