Though since 1991, India has been actively pursuing liberalization in external sector, including regulatory processes; however, still there are many initiatives which are to be taken to their logical end. The paper has identified some of the trade-related sectors, which require urgent attention of the policy makers. These sectors include government procurement, trade facilitation, and mutual recognition agreements (MRA) for implementation of sanitary and phytosanitary (SPS)-related provisions. Policy reforms in these areas may further help in rationalizing India’s continuously expanding frontiers of new free-trade agreements (FTAs) with that of multilateral commitments. It may also provide further fillip to the idea of reducing transaction costs for the external sector.
Journal of World Trade