In 1960, India had a policy of retaining a certain percentage of its import value in the country, known as retained imports. The total value of retained imports in India in 1960 was 71.5 million per month.


Retained imports refer to the amount of foreign exchange spent on imports that is retained in the country instead of being paid to the exporting country. This was a policy adopted by India in the 1960s to conserve foreign exchange reserves and promote domestic production.

The total value of retained imports in India in 1960 was 71.5 million per month. This means that out of the total value of imports into India, 71.5 million was retained in the country and the remaining amount was paid to the exporting countries.

The policy of retained imports had several benefits for India. It helped to conserve foreign exchange reserves, which were crucial for the import of essential goods such as oil, machinery, and fertilizers. It also encouraged domestic production by reducing competition from imported goods and providing a market for Indian manufacturers.


In conclusion, the total value of retained imports in India in 1960 was 71.5 million per month. This policy was adopted to conserve foreign exchange reserves and promote domestic production. It had several benefits for the Indian economy and was an important policy measure in the 1960s.