Import-Substituting Industrialization Results of Favoring Manufacturing: Problems of Import-Substituting Industrialization Many countries that have pursued import substitution have not shown any signs of catching up with the advanced countries Example: In India, after 20 years of economic plans between the early 1950s and the early 1970s, its per capita income was only a few percent hi gher than before Copyright C 2003 Pearson Education, Inc Slide 10-12Copyright © 2003 Pearson Education, Inc. Slide 10-12 ▪ Results of Favoring Manufacturing: Problems of Import-Substituting Industrialization • Many countries that have pursued import substitution have not shown any signs of catching up with the advanced countries. – Example: In India, after 20 years of economic plans between the early 1950s and the early 1970s, its per capita income was only a few percent higher than before. Import-Substituting Industrialization