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Asked by Swati Last Modified
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Following are major factors which resulted in India to follow self reliance as one of it's objective.
1.high dependency on imported goods which led to decline in demand for domestic goods.
2. Decline in foreign reserve as more an more cash was flowing out of the economy .
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Mandakini Singh
Teaching is more than just a job, it is a responsibility. A responsibility to help shape career..
Achieving self-reliance was considered important for a developing country like India to reduce the country's dependence on foreign products, especially for food. Dependence on foreign goods and services could make the country vulnerable to foreign interference in economic policies and hence result into loss of economic sovereignty.
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