Search

What is another word for import substitution?

Pronunciation: [ɪmpˈɔːt sˌʌbstɪtjˈuːʃən] (IPA)

Import substitution refers to the strategy of developing and promoting domestic industries to substitute imported goods. This concept is widely used in economic discussions and has various synonyms that describe the same economic principle. One alternative term is 'domestic substitution', which denotes the same idea of promoting local industries over imported goods. 'Industrialization by import substitution' is another phrase used to depict the same economic strategy. Another synonymous phrase is 'market substitution,' referring to the process of replacing foreign products in the market with locally produced alternatives. In conclusion, these synonyms for import substitution highlight the importance of promoting domestic industries and reducing the dependence on imported goods to achieve sustainable economic growth.
Hypernyms
Related words & questions
Infographic
Search

What are the hypernyms for Import substitution?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Related words: import substitution strategy, import substitution in india, import substitution policy, import substitution in nigeria, what is import substitution, import substitution meaning, import substitution examples

Related questions:

  • What is import substitution strategy?
  • Is import substitution good for a country?
  • Why do countries use import substitution?
  • What are examples of import substitution?

    • Word of the Day

    non-derivable
    The word "non-derivable" refers to something that cannot be obtained through logical deduction or inference. Its antonyms include terms like "deducible," "inferable," and "derivabl...

    Infographic

    import substitution, synonym import substitution, another word for import substitution, words like import substitution, thesaurus import substitution
    Share this Image
    Add the infographic to your website: