What was the reason for adopting a self-reliance policy in our 5-year plans?

• Reduced dependency on foreign goods.
• Low interference of foreign policies.
• Creating monopoly internationally.

Only 1 and 2 are correct

Self-reliance means that there is no dependency on the foreign goods. It was believed that India was recently freed from foreign dominance and should now focus on development through self sufficiency. If there is high dependency on imports then eventually foreign country's policies will effect the Indian economy in the form of tariffs being laid by the alien government. In order to free itself from any interference from the foreign government, India adopted self reliance in its 5-year plans.