This chapter reviews India’s trade policy, which has resulted in a rapid transition from one of the most closed large economies of the world to a much more open one. It explains how India’s international trade agreements have complemented efforts to expand markets and reduce the cost of trading goods and services across borders. The chapter also examines India’s process of formulating trade policies and tariffs, the establishment of consultation mechanisms, and implementation challenges. The analysis is structured around the questions set out in the Policy Framework for Investment (PFI). Each section is preceded by the relevant PFI question, which serves as general context for consideration of main policy areas.