This volume comprises a collection of research papers from various projects undertaken at the National Council of Applied Economic Research (NCAER). The book presents and discusses the impact of India's trade policy reform, undertaken since 1991, on its growth and welfare. It provides details on the prospects of India taking a multilateral stance in liberalizing its foreign trade versus giving attention to regional trade agreements. All three sectors of the economy are addressed within the papers, namely, agriculture, manufactured goods and services. Internal reforms of tax administration, such the impact of introducing goods and services tax on India's growth and welfare, are also analyzed.