Business EconomyPosted at: Oct 4 2026 3:07PM


India needs smarter regulation, not more rules: NITI Aayog Member

New Delhi, Oct 4 (UNI) NITI Aayog Member Rajiv Gauba has called for a shift towards light-touch and risk-proportionate regulation, saying India's regulatory architecture must evolve alongside technological advances, changing business models and shifts in the global economy.
Speaking at a plenary session on “Regulatory Oversight in an Age of Disruption” at the fifth Kautilya Economic Conclave in New Delhi, Gauba said regulation and economic growth should not be viewed as competing objectives. Instead, regulatory policy should focus on managing risks while creating space for innovation, competition and investment.
“The goal should be a State that is ‘firm where risks are high, and light-touch where risks are low,’ but predictable in both cases,” Gauba said.
Gauba said regulatory intervention should be based on the nature and potential impact of the risks involved. Regulators, he added, should first examine whether a new rule is actually necessary before introducing additional requirements, particularly in sectors undergoing rapid technological and business-model changes.
He also stressed the need for greater coordination between regulatory authorities. Overlapping jurisdictions can result in duplication, while gaps between different regulatory frameworks can leave emerging risks inadequately addressed.
A more coordinated approach, he said, would help create a regulatory environment that is both effective and easier for businesses to navigate.
Gauba also highlighted the importance of maintaining a balance between regulatory independence and accountability.
While regulators need sufficient autonomy to make difficult decisions without external pressure, he said public confidence would depend on transparent processes, clearly defined procedures and effective mechanisms for reviewing regulatory decisions.
Accountability for regulatory performance, he added, is equally important for maintaining trust in institutions.
The NITI Aayog member further called for investment in regulatory capacity as markets and technologies become increasingly sophisticated. Regulators would need access to specialised expertise, stronger analytical capabilities and greater engagement with industry, academic institutions and technology organisations.
Gauba linked the need for regulatory reform to India's longer-term ambition of becoming a developed economy by 2047.
He said a predictable and proportionate regulatory framework would be important for sustaining the high rate of economic growth needed to achieve the Viksit Bharat objective.
His remarks also drew on the government's Trust-Based Governance approach and the Jan Vishwas framework, which seek to reduce unnecessary compliance burdens and build greater trust between the state and businesses.
The three-day Kautilya Economic Conclave is being held in New Delhi from October 3 to 5 under the theme “Resilience in an Age of Flux.” The event has brought together policymakers, economists, academics, financial experts and international participants from around 30 countries.
Finance Minister Nirmala Sitharaman, Principal Secretary to the Prime Minister P K Mishra and Reserve Bank of India Governor Sanjay Malhotra also addressed the conclave earlier in the day, focusing on India's economic priorities, resilience and financial stability.
Gauba's comments come at a time when emerging technologies and rapidly changing business models are challenging traditional regulatory frameworks, putting greater emphasis on rules that can manage risks without unnecessarily slowing innovation and investment.
UNI VK RSA
Tags: #India needs smarter regulation# not more rules: NITI Aayog Member
More News

AMCCIE seeks rollback of gold hallmarking fee hike

04 Oct 2026 | 9:23 PM

Mumbai, Oct 4 (UNI) The Agrawal Marwadi Chamber of Commerce, Industries & Education (AMCCIE) has urged the Centre and the Bureau of Indian Standards (BIS) to withdraw the increase in gold hallmarking charges from Rs 45 to Rs 75 per article.

see more..

India targets import dependence in rare-earth magnets, energy as structural reforms continue: Shaktikanta Das

04 Oct 2026 | 7:36 PM

New Delhi, Oct 4 (UNI) India is working to build domestic capacity in critical sectors where it remains dependent on imports, including rare-earth permanent magnets, while continuing with structural reforms aimed at strengthening macroeconomic and financial stability, Principal Secretary-2 to the Prime Minister Shaktikanta Das said.

see more..

Tata Sons: Save the golden goose while protecting shareholder rights

04 Oct 2026 | 5:18 PM

Ninad D Sheth
New Delhi, Oct 4 (UNI) The Tata Sons dispute calls for regulatory flexibility, a fair deal for minority shareholders and protection of a rare philanthropic institution.

see more..

Private investment must lead India’s next growth cycle: Nirmala Sitharaman

04 Oct 2026 | 4:37 PM

New Delhi, Oct 4 (UNI) union Finance Minister Nirmala Sitharaman has called for a stronger role for private investment in India’s next phase of economic expansion, saying higher corporate capital expenditure and greater spending on research and development (R&D) will be crucial to sustaining growth amid rising global uncertainty.

see more..

India needs smarter regulation, not more rules: NITI Aayog Member

04 Oct 2026 | 3:07 PM

New Delhi, Oct 4 (UNI) NITI Aayog Member Rajiv Gauba has called for a shift towards light-touch and risk-proportionate regulation, saying India's regulatory architecture must evolve alongside technological advances, changing business models and shifts in the global economy.

see more..