P. Chidambaram, who first became a Parliamentarian in 1984, served as India’s minister of state for commerce with independent charge in P V Narasimha Rao’s government when India rolled out the 1991 reforms. A new trade policy and industrial policy were part of that reform package. Chidambaram reflects on what led to the hurried rollout of the 13-point trade policy on July 4, 1991, before the reform Budget was presented by Manmohan Singh later that month. In an interview, Chidambaram, who subsequently served as finance and home minister during the Congress-led United Progressive Alliance’s tenure, tells Asit Ranjan Mishra and Gireesh Chandra Prasad that he believes India needs to usher in more competition and work with other nations to revive the World Trade Organization (WTO) for a more open global trading system. Edited excerpts: