Imports of foreign goods and entry of foreign investments were restricted in India because -

CA Foundation · Business Economics · MTP · June 2024
Imports of foreign goods and entry of foreign investments were restricted in India because -
(A) A. The government wanted people to follow the policy of 'Be Indian; Buy Indian'
(B) B. Because foreign goods were costly and meant loss of precious foreign exchange
(C) C. Government policy was directed towards protection of domestic industries from foreign competition
(D) D. Government wanted to preserve Indian culture and to avoid influence of foreign culture

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Government policy was directed towards protection of domestic industries from foreign competition

Topics: Theory of Demand and Supply

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