Synopsis This is a book on India's external trade, a sector that has been completely transformed since the reforms of 1991. Beginning with a sketch of the pre- 1991 scenario, the book outlines the rationale for reforms and describes the various strands of liberalization in the external sector--tariffs, quantitative restrictions, export subsidies, exchange rate and foreign direct investments. The external sector cannot really be delinked from what has been happening in the domestic economy and unilateral reforms cannot be considered except against the backdrop of changes in the international environment. Therefore, the book has essays on competition policy, intellectual property rights, food security and labour market reform. These have been identified as relatively new areas, as enough has been written about issues like trading blocs or the uruguay round. The book should be useful to students, researchers and anyone who is interested in India's external trade.