Progressive and pragmatic regulations and quick regulatory action are the need of the hour, argues PM Devaiah of Everstone Capital Advisors
Buoyancy in corporate India is apparent. Attempts are being made to rejuvenate the economy by reform initiatives, both political and systemic. However, regulatory coherence, consistency and clarity have yet to be achieved.
Despite the rapid organic and inorganic metamorphosis of the business and economic environment evolving in India, the approach to regulation making seems to centre on a socio-restrictive mind-set rather than one of socio-progressive facilitation. Among the fruits of such an approach are criticisms from across industry, domestic or otherwise, christening India as “difficult” for stifling economic efficiency.
PM Devaiah is a partner and general counsel with Everstone Capital. The opinions and views expressed in this article are personal in nature.