IEcoS (Economic Services) Indian Economics History of Development and Planning-Goal of Self Reliance Based on Import Substitution and Protection Study Material (Page 1 of 1)

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Self-Reliance and Import Substitution

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Reasons to Adopt the Goal of Self-Reliance

  • About six decades ago on the Eve of the first plan, India was dependent on foreign countries in three respects.
    • First, even though Indian economy was essentially agrarian, the output of the food grains was not adequate and the country imported large quantities of food grains from the USA and some other countries.
    • Second, because of the virtual non-exis…

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