📝 Multiple Choice Question
Economics
What is the trade-strategy, which India adopted in the first-seven Five-Year Plans?
A
Inward-looking trade strategy
B
Partially outward-looking trade strategy
C
Partially inward-looking trade strategy
D
Outward-looking trade strategy
Explanation
Prior to 1991, India pursued an inward-looking trade strategy characterized by import substitution, utilizing strict tariffs and quotas to nurture and protect domestic industries.
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