1. Free trade between India and China: The border disputes between China and India have been simmering since 1962. Despite the lingering border disputes, both India and China have been strengthening their economic ties in recent years. Officials from both countries have said they hope that improved trade relations will bring about a quicker resolution of political differences.

The Chinese Prime Minister has expressed Beijing's desire to develop a free-trade area between the two countries. With combined population of more than 2 billion, such a development would create the world's largest free-trade zone and help in industrialisation and bring about faster development in both the countries.

2. Free trade between India and Pakistan: For the first time in 50 years, the Pakistan government has cleared the duty-free import of onions, potatoes, tomatoes, garlic and livestock through the re-opened land route. India, on the other hand, is free to import lentils, cotton, sugar and dry fruits from Pakistan. But there is fear and uncertainty of informal trade with Pakistan.

India's biggest concern is that the Pakistani Government is unstable and unreliable. But with recent fall in tensions between the two nations, both countries stand to gain from informal trade.