When did India start giving serious thought to promoting exports?

The correct answer is Option 2: In the mid-1980s

The policy of protection followed by India was based on the notion that industries of developing countries were not in a position to compete against the goods produced by more developed economies.There was also a fear of foreign exchange being spent on import of luxury goods if no restrictions were placed on imports. Nor was any serious thought given to promote exports until the mid-1980s.