After India became independent, the Indian government put barriers to foreign trade and foreign investment. The values that worked behind this are:
(i) It was essential at that time to protect the producers within the country from foreign competition. Industries were just coming up in the 1950s and 1960s, and competition from imports at that stage would not have allowed these industries to emerge.
(ii) Since industries were newly born during that period, it was necessary to make their foundation strong by providing them opportunities to flourish first within the country, then across the country.
(iii) The restrictions on foreign trade for a certain period proved to be a boon for domestic producers in the sense that they became self-sufficient. This self sufficiency made them able to face competitions.
