In his address at the 5th Kautilya Economic Conclave, Shri Rajiv Gauba, a member of NITI Aayog, emphasized the need for regulatory frameworks to adapt to rapidly changing geopolitical, technological, and economic conditions.
Shri Gauba's address at the plenary session on 'Regulatory Oversight in an Age of Disruption' highlighted several challenges. He pointed out that geopolitical uncertainty, disruptions to trade routes, and the increasing use of tariffs, export controls, and investment restrictions are reshaping the economic landscape. Furthermore, he noted that technological change is advancing faster than many institutions and regulatory frameworks can adapt, particularly in areas such as artificial intelligence, cybersecurity, and digital technologies.
Gauba also emphasized the growing complexity of modern business models, which increasingly span multiple sectors and technologies. He stressed that regulatory frameworks must evolve to address interconnected risks without creating fragmented or conflicting obligations. Additionally, he underlined that while regulation is essential for safety, consumer protection, market integrity, and systemic stability, excessive or poorly designed regulation can impede innovation, competition, and investment.
Shri Gauba further emphasized that regulatory requirements should be calibrated to the nature and consequences of the risks involved. He called for greater coordination among regulators to address overlapping mandates, avoid duplication, and close regulatory gaps as businesses increasingly operate across traditional regulatory domains.
Finally, he stressed that effective regulation depends on the capacity of the State. Strengthening analytical capabilities, attracting specialized talent, and developing structured engagement with industry, academia, and technology institutions will be critical to building regulatory capacity.
Source:
Press Information Bureau
