Import Substitution
topic on 2 shows · 2 statements across 2 episodes
the Neon Show 
WTF is with Nikhil Kamath
2 statements about Import Substitution, every show
Sharma: India's 1960s–70s import substitution left industry uncompetitive
“We tried that. We tried that in the 19 sixties. We tried that in the 19 seventies. It was called something called import substitution, which is exactly what you're referring to, and it didn't work. It left us very uncompetitive.”
Rangarajan: Pre-1991 import substitution created a high-cost economy
“Earlier on, we followed a policy of import substitution in the sense that whatever we are importing, we should produce. But that resulted essentially in a high-cost economy. Because if we were able to produce that commodity economically and efficiently, then w…”