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Indian exports to foreign countries fell rapidly due to
- a)Prohibitive import duties
- b)Development of machine industries
- c)Both (a) and (b)
- d)Acute shortage of raw materials in India
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Indian exports to foreign countries fell rapidly due toa)Prohibitive i...
C is the correct option.Indian exports to foreign countries fell rapidly due to Prohibitive import duties and Development of machine industries.
A tariff so high that it makes an import prohibitively expensive. A prohibitive tariff discourages importers from bringing goods into the country in the first place because they will be difficult to sell. For example, a country may levy a 900% tariff on a good that it wishes to keep out.
A tariff so high that it makes an import prohibitively expensive. A prohibitive tariff discourages importers from bringing goods into the country in the first place because they will be difficult to sell. For example, a country may levy a 900% tariff on a good that it wishes to keep out.
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Indian exports to foreign countries fell rapidly due toa)Prohibitive i...
Indian exports to foreign countries fell rapidly due to both prohibitive import duties and the development of machine industries.
Impact of Prohibitive Import Duties:
- Prohibitive import duties refer to the high taxes imposed on imported goods. These duties were implemented to protect domestic industries from foreign competition and to promote self-sufficiency.
- The imposition of high import duties made foreign goods more expensive for Indian consumers. As a result, the demand for imported goods decreased, leading to a decline in Indian exports.
- The high import duties also made it difficult for Indian exporters to compete in foreign markets. Foreign consumers were less willing to purchase Indian goods due to the increased cost, further affecting exports.
Impact of the Development of Machine Industries:
- The development of machine industries in India led to a shift in the country's production capabilities. With the introduction of machinery, industries were able to produce goods more efficiently and in larger quantities.
- This shift towards machine industries resulted in a decrease in the production of traditional handcrafted goods that were previously popular exports. These handcrafted goods, which had a unique appeal in foreign markets, lost their competitive edge.
- Additionally, the development of machine industries increased the production of manufactured goods, making them more easily available in domestic markets. As a result, the demand for imported goods decreased, further impacting Indian exports.
Combined Impact:
- The combined impact of prohibitive import duties and the development of machine industries resulted in a rapid decline in Indian exports.
- The high import duties made it difficult for Indian exporters to compete in foreign markets, while the shift towards machine industries decreased the production of traditionally popular exports.
- As a result, Indian exporters faced challenges in finding foreign buyers for their goods, leading to a significant drop in exports.
In conclusion, the fall in Indian exports to foreign countries can be attributed to both prohibitive import duties and the development of machine industries. These factors combined to create a challenging environment for Indian exporters, impacting their ability to compete in foreign markets.
Impact of Prohibitive Import Duties:
- Prohibitive import duties refer to the high taxes imposed on imported goods. These duties were implemented to protect domestic industries from foreign competition and to promote self-sufficiency.
- The imposition of high import duties made foreign goods more expensive for Indian consumers. As a result, the demand for imported goods decreased, leading to a decline in Indian exports.
- The high import duties also made it difficult for Indian exporters to compete in foreign markets. Foreign consumers were less willing to purchase Indian goods due to the increased cost, further affecting exports.
Impact of the Development of Machine Industries:
- The development of machine industries in India led to a shift in the country's production capabilities. With the introduction of machinery, industries were able to produce goods more efficiently and in larger quantities.
- This shift towards machine industries resulted in a decrease in the production of traditional handcrafted goods that were previously popular exports. These handcrafted goods, which had a unique appeal in foreign markets, lost their competitive edge.
- Additionally, the development of machine industries increased the production of manufactured goods, making them more easily available in domestic markets. As a result, the demand for imported goods decreased, further impacting Indian exports.
Combined Impact:
- The combined impact of prohibitive import duties and the development of machine industries resulted in a rapid decline in Indian exports.
- The high import duties made it difficult for Indian exporters to compete in foreign markets, while the shift towards machine industries decreased the production of traditionally popular exports.
- As a result, Indian exporters faced challenges in finding foreign buyers for their goods, leading to a significant drop in exports.
In conclusion, the fall in Indian exports to foreign countries can be attributed to both prohibitive import duties and the development of machine industries. These factors combined to create a challenging environment for Indian exporters, impacting their ability to compete in foreign markets.
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Indian exports to foreign countries fell rapidly due toa)Prohibitive import dutiesb)Development of machine industriesc)Both (a) and (b)d)Acute shortage of raw materials in IndiaCorrect answer is option 'C'. Can you explain this answer?
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