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unit-1-the-consequences-of-colonialism

Unit-1 The Consequences Of Colonialism

Understand how India came to become what it was at the time of Independence and grasp political, social and economic processes.

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What is “import substitution” industrialisation?

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Learning Pundits Content Team

Written on Apr 15, 2019 6:50:49 PM

By the time of the second world war, India had achieved a good measure of self-sufficiency in, apart from Industries mentioned above, consumer goods as also in crude and intermediate goods like pig-iron, steel, cement, etc. Much of what was imported from Britain earlier was being produced within the country itself; this pattern of industrialisation has been referred to by the economists as "import-substitution" industrialisation.