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nt in capital made by local firms and multinational companies through FDI. As a result, local firms are encouraged to become more innovative and fewer dependants on the activities of more established firms, this also increases efficiency and the quality of goods and services produced by local firms.

Driffiled and Kambhampati (2003), examine whether trade liberalisation initiative has had a positive impact on the efficiency levels of domestic firms in India. The results suggest that, there has been a general improvement in the performance and efficiency of firms, which was largely dependent on trade liberalisation rather than imports in particular.

Goldar and Kumari (2003) study the relationship between import liberalisation and the effect it had on productivity growth of domestic firms. Carrying out an analysis of these two factors is very crucial when it comes to identifying the performance of firms post liberalisation. As indicated in previous studies based on the period when the Indian economy operated as closed economy with heavy restrictions against foreign trade, there was declining growth patterns and inefficiencies amongst firms. However, the outcomes of the research indicate that the eradication of these protective policies such as licensing requirements, had demonstrated a positive impact on the productivity of local firms. Nevertheless, it was also highlighted that the general increase in productivity growth had been weighed down by a lack of utilisation of industrial space, which ultimately led to a deceleration in total productivity growth within certain industries.

Vachani (1997) argued that pre liberalisation; India was operating in a closed market economy. Additionally, the government offered financial incentives to domestic firms in order to protect their markets from foreign competition. However, the trade liberalisation reform produced both advantages and disadvantages to firms. Ramachandra (1995) studies the impact of trade liberalisation reforms and the effects on the structure of the industry in India. The research was carried out based on a special case study of the petrochemicals industry, which is one of the biggest and high specialised industries within the economy. The outcomes of the econometric modelling suggest that trade liberalisation policies have led to an overall increase in the level of imports and exports for India; however statistics show that exports have been relatively more stable. In addition, the study highlights the fact that both GDP and imports have a imperative influence on each other, thus import liberalisation would have positive impacts on GDP and hence the performance of firms in general.

Mohanty (2003) carried out an assessment of trade liberalisation in India and its effects on trade relations with south Asian countries. The role of the South Asian Preferential Trade Agreement (SAPTA) was an agreement signed by several south Asian countries including India, in order to promote economic activity mainly through reductions in tariffs and liberalising almost all domestically produced products. Moreover, the project had proven to be successful for domestic firms in India, since it encouraged more joint ventures set up between home and foreign companies and enabled access to relat本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。