Has import substitution worked for India – Challenges & Road Ahead

Trade Promotion Council of India organised an online panel discussion on the topic ‘Has import substitution strategy worked for India? Challenges and road ahead’, on 1st June, 2021.

The discussion centred on import substitution strategy under trade policy which seeks to abolish the import of foreign products and encourages production in the domestic market. The purpose of this policy is to change the economic structure of the country by replacing foreign goods with domestic goods strategy that seeks to develop industrial capacity by shielding domestic producers from foreign competition, especially helping SMEs.

Prof. Manoj Pant, Director at Indian Institute of Foreign Trade; Mr. Ajit Pai, Distinguished Expert & Consultant to Vice Chairman, NITI Aayog; Shri Alok Shekhar (IAS), Principal Secretary, Industries & Commerce, Government of Punjab; Shri A. Bipin Menon (ITS), Development Commissioner, Noida Special Economic Zone; Mr. Sanjay Grover, Vice President, International Business Division, Kirloskar Pneumatic Company Limited and Mr. Kapil Malhotra, Sr. Vice President- Marketing, Gujarat Fluorochemicals Limited were the esteemed panelists at the discussion.