What is the policy of import substitution? Has this policy worked for the developing countries? If...

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What is the policy of import substitution? Has this policy worked for the developing countries? If...

What is the policy of import substitution? Has this policy worked for the developing countries? If not, what are the problems of this policy?

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Answer #1

import substitution is important to boost domestic manufacturing sector it could leads to employment opportunities being created and considerably lower the demand and foreign exchange. But there are some negative aspects of import substitution let's see in details in given answer.

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1. What is the policy of import substitution? Has this policy worked for the developing countries?...

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What is the policy of import substitution? Has this policy worked for the developing countries? If...

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