How competitive is product market regulation in India : An international and cross state comparison This paper assesses the extent to which Indias regulatory environment promotes or inhibits competition in markets where technology and market conditions make competition viable. The analysis is based on the OECD’s indicators of Product Market Regulation (PMR) which have been used extensively over the last decade to benchmark regulatory frameworks in OECD countries and have proven useful in encouraging countries to implement structural reforms that enhance economic performance.