A mythical phoenix arises from a pile of imported goods, signifying the process of ISI and industrial growth

Import Substitution Industrialization (ISI): Understanding the Theory, History, and Real-World Application

International Trade

Introduction to Import Substitution Industrialization (ISI) Import Substitution Industrialization (ISI) is a development strategy adopted by emerging economies aiming to reduce their dependence on foreign goods and services. ISI’s main objective is to protect, nurture, and expand domestic industries to compete effectively with imports. This approach goes against the principle

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