Import Substitution Industrialization (ISI) is an economic policy aimed at reducing a country's dependence on foreign goods by promoting domestic production. This strategy encourages the development of local industries to manufacture products that were previously imported, thereby fostering economic self-sufficiency and job creation. Governments often support ISI through tariffs, subsidies, and other protective measures to help local businesses grow. While ISI can stimulate industrial growth, it may also lead to inefficiencies and a lack of competition, as domestic industries might not innovate or improve without the pressure of foreign competition.