Assertion (A): There was rapid industrialization around the globe in the 1950s and 1960s.

Reason (R): Small-scale producers wouldn't be able to cope with the growing competition from imports.

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Both (A) and (R) are true and (R) is the correct explanation of (A).

Both (A) and (R) are true but (R) is not the correct explanation of (A).

(A) is correct but (R) is wrong.

(A) is wrong but (R) is correct.

answer is A.

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Detailed Solution

Both (A) and (R) are true and (R) is the correct explanation of (A).
When our country gained independence, the government found it important to protect producers from the competition as there was rapid industrialization around the globe in the 1950s and 1960s, and small-scale producers wouldn't be able to cope with the growing competition from imports. A developing country must protect the interests of small-scale producers at the early stages of development to become self-reliant. In 1991, the government made some changes in the policy and removed many trade barriers.

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