Niti Aayog's Gauba urges light-touch regulation for India's growth

Niti Aayog member Rajiv Gauba called for a decisive shift towards light-touch regulation to sustain high growth for India's Viksit Bharat goal by 2047, speaking at the 5th Kautilya Economic Conclave on Saturday. Gauba said the state should be firm where risks are high and light-touch where risks are low, while remaining predictable in both cases. He urged regulators to assess whether new rules are warranted before intervening in rapidly evolving sectors and called for greater coordination to address overlapping mandates. He also stressed that regulatory independence must pair with accountability, requiring transparent decision-making and review mechanisms. Gauba highlighted challenges from geopolitical uncertainty, trade disruptions, and fast-advancing technologies like AI, noting modern business models span multiple sectors, making traditional regulatory boundaries less relevant.