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India’s Trade Policy: The 1990s and Beyond
Author: Arvind Panagariya
Publisher: HarperCollins
Pages: 340+XXV
Price: Rs 599
Few may remember that India’s economic reforms of 1991 began with dramatic trade policy changes. The evening before India decided on July 3 to depreciate its currency against the US dollar, for the second time in quick succession and by a steeper margin of 12 per cent, the P V Narasimha Rao government took an equally important step towards abolishing export subsidies or cash compensatory support for exporters, removing the monopoly of the state trading companies over imports and introducing Exim Scrips that could be traded in
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