The importance of developing regulatory law and policy in India

In this recent convocation address delivered at the National Law School’s 13th Convocation, Montek Singh Ahluwalia notes that “Regulatory law is a relatively new development in India, and is likely to expand very considerably in the years ahead.”

It is indeed surprising that relatively little scholarship has been devoted to regulation in legal circles in India, even though policies of liberalisation have been pursued for nearly a decade and a half. One would have thought that at least the texts and courses on administrative law would have made attempts to study the massive changes in the Indian regulatory regime. Yet, surprisingly, the standard texts remain largely silent on these aspects.

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