These measures have brought down effective rate of protection, eliminated the anti-export bias and promoted competitive and efficient industries. A number of laws have also been promulgated to bring the trade regime in conformity with World Trade Organization regulations. These include antidumping and countervailing measures intellectual property rights.
The best crisis management framework is one that prevents crises. Having said this, no financial system can be completely immune from episodes of financial instability from time to time and there will be a need to manage crisis.