Parliamentarians’ Panel Discussion On “ The Political Economy Of Regulation In India —What Do We Need
Monday, March 31, 2008, New Delhi
To debate and evolve a consensus for an effective regulatory regime in India
For the Indian economy to achieve and sustain an annual growth rate of 10 percent and impact poverty, the creation of quality infrastructure is critically important. It is estimated that India needs more than a trillion dollars investment in infrastructure. At a conference organised by the Planning Commission on 7th November 2006, the Prime Minister spoke about a figure of $320bn required by 2012 in order that India could compete effectively with China. Subsequently the figure was revised upwards to $450bn.
It is clear that this order of investment cannot come from the public sector alone. Private sector, too, will have to be persuaded to invest. In order for private sector investment to come in on a meaningful scale, two pre-conditions have to be met. One markets for infrastructure services must be created. And, two, those markets must be regulated properly so that non-market risks are either eliminated, or at least minimised through a predictable legal environment.
Against this background, CUTS International has undertaken a project and come out with a report titled, “Competition & Regulation in India–A Status Report, 2007″. The report highlights various distortions in economic governance of the country and suggests the way forward to promote well-regulated markets.
The panel would comprise of approximately six distinguished members. Each panellist would take 10-15 minutes to present his/her own views, followed by floor discussions. The audience will mainly comprise of representatives from the business community, regulatory agencies, civil society, policymakers, academia and media.
1500 – 1800 hours, Monday, March 31, 2008
Maharani Hall, The Claridges 12 Aurangzeb Road, New Delhi