📝 Multiple Choice Question
Economics
In the First seven five-year plan, in India trade was characterized by what is commonly called an strategy.
A
export promotion
B
globalization
C
import substitution
D
free trade
Explanation
During the initial First seven Five-Year Plans (lasting right up to 1990), India strictly followed a deeply inward-looking trade strategy heavily and exclusively reliant on import substitution to protect fragile domestic industries from foreign competition.
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