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The 1991 liberalisation and subsequent reforms gave a major boost to the Indian economy for about two decades. But have now run their course. The global economic landscape has become more difficult. India must now engage the world with a more active, smart trade policy. India is now the world’s sixth largest economy but remains a small player — pygmy — in global trade. It must integrate more globally to make the next leap forward to becoming the world’s third largest economy. Shrinking back to protectionism — as others are doing — is not the answer at our stage of
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