NITI Aayog Member Rajiv Gauba has emphasised the need for regulatory frameworks to evolve alongside a rapidly changing geopolitical, technological and economic environment. He emphasised that the challenge before policymakers is not to choose between regulation and growth, but to develop regulations that manage risks while supporting innovation, competition and investment. Mr Gauba stated this while addressing the plenary session on “Regulatory Oversight in an Age of Disruption” at the 5th Kautilya Economic Conclave in New Delhi yesterday.

Emphasising the need for a proportionate approach, Mr Gauba said regulatory requirements should be calibrated to the nature and consequences of the risks involved. He noted that regulators must carefully assess whether new rules are warranted before intervening in new and rapidly evolving sectors and avoid attempting to prescribe solutions for every possible failure. He also called for greater coordination among regulators to address overlapping mandates, avoid duplication and close regulatory gaps as businesses increasingly operate across traditional regulatory domains.