Which of the following was a key feature of India's trade policy reforms in 1991 period?
Removal of licensing procedures for imports
The New Economic Policy of 1991 (Liberalisation, Privatisation and Globalisation) liberalised foreign trade, which until then had been tightly controlled.
Key trade reforms were: dismantling of import licensing and quantitative restrictions on imports (except for a short negative list of sensitive items), sharp reduction of customs (tariff) duties, removal of export duties, and devaluation of the rupee followed by a market-determined exchange rate.
Imposing new quantitative restrictions, expanding import licensing or introducing export quotas are the opposite of what the 1991 reforms did — they describe the earlier control regime.
Hence, the answer is Removal of licensing procedures for imports.
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