Recently I was researching import substitution by looking at import data of various countries. And I hatched a generic plan.
First of all 3 questions:
1) which imported items can be easily displaced?
Examples could be:
- Agri-food, light industry(FMCG) where capital expenditure is minimal and technology low
2) which are the most imported items (by value) ?
Often relatively simple chemical raw materials are a big item in the import basket. Things like plastics or base chemicals for cleaning products.
3) which items are more strategic for the market or industry?
Examples could be one or more priorities:
-goods whose production has multiplying effect on jobs
-strategic goods where unavailability stops whole industries
-linkage to related industries
-processing of local resources
This analysis needs to be further drilled down, for each industry, and an analysis of imported good needs to be donein order to know which goods have a very big money value.