In India, during the first seven plans, trade policy was characterized by an inward-looking trade strategy. Technically, this strategy is called: Option 1: Foreign competition promotion Option 2: Import promotion Option 3: Import substitution Option 4: Export promotion

The answer is 'Import substitution'. View full solution:

CUET Economics - In India, during the first seven plans, trade policy was characterized by an inward-looking trade strategy. Technically, this strategy is called: | PYQs + Solutions

CUET Economics 2026 21st May Shift 2

Indian Economic Development

Easy

Foreign competition promotion

Import promotion

Import substitution

Export promotion

✅ Correct Option: 3