However, these attempts have not been sufficient to fully erase national differences. Take the Capital Requirements Directive (CRD IV) for example. As this is a directive, Member States are free to choose the form and method of implementation. Consequently, not all Member States opted for a word-for-word transposition of the relevant norms.
Whenever one thinks of globalisation, the first things that comes to mind is integration of trade around the world. Over the years there has been substantial improvement in India’s trade openness. Further, services have come to account for a major contributor to our export earnings. A number of factors have aided this process.