> Source? Especially for the second statement. Too lazy to Google but India used protectionism because it wanted to do its own thing after independence and kee

> Source? Especially for the second statement. Too lazy to Google but India used protectionism because it wanted to do its own thing after independence and keep the evil western corporation away. By the end of 1980's India was almost bankrupt and had to get loans from IMF one of the condition was to open up the economy. India's poverty rate started to fall down after the economy opened up.