Import substitution industrialization (ISI)

Import substitution industrialization (ISI),

Definition of Import substitution industrialization (ISI):

  1. A trade or economic policy theory that advocates replacing imports with domestic production, on the principle that countries should reduce their foreign dependency through local production of industrialized products to create self-sufficient economies. The benefits and success of ISI implementations has been questioned and remains a debated issue. Today very few countries still use such implementations.

How to use Import substitution industrialization (ISI) in a sentence?

  1. In an effort to become less dependent on foreign countries, the American committee met to discuss ways to implement import substitution industrialization .
  2. You should try and figure out how to use import substitution industrialization to your advantage in any way you can.
  3. Import substitution industrialization was on our mind as we discontinued outsourcing and decided to manufacture in house everything that we could.

Meaning of Import substitution industrialization (ISI) & Import substitution industrialization (ISI) Definition