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Will the govt's plan to prune import dependency in a new avatar work?

The aim is to boost domestic output, without raising tariffs or providing subsidy, of items on whose imports India is heavily dependent. The plan is to start with consumer and capital goods

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Indivjal DhasmanaShreya Nandi New Delhi
Import substitution as a policy lost steam after India ushered the era of economic liberalisation in 1991. But now the government is exploring the possibility of boosting domestic production of items on whose imports India is heavily dependent. The strategy this time, however, is to do this without raising tariffs or providing subsidies.
 
The sustained rise in inbound shipments in recent months prompted officials from the commerce department to meet industry representatives last week over ways to boost domestic production of specific items. This, in turn, could provide a fillip to exports. They identified 102 items whose imports had surged

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First Published: May 18 2022 | 2:29 PM IST

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