 Evidence is so strong that once this liberalization took root and countries began to own it, growth rate is significantly higher actually in the mid-1990s onwards period. You can really engineer faster growth. Growth in the range of 8-9% a year as some of the most successful countries were able to do. And then there is no way forwards are left behind. Trade by itself is not sufficient. But it is perhaps the most important necessary condition. Once you begin to open and feel committed to opening the economy to trade, you are also going to do other policy reforms systematically. If domestic policies are incredibly constraining like India had all this license, investment licensing, all sorts of rigidities in the labor markets, rigidities in the land markets, then also the impact of the policies will not be realized. Welcome to a discussion series on free trade and liberalization. As part of the 1991 project, I am Shruti Rajagopalan and in this conversation, I am going to be talking trade with Arvind Panagaria.