India's ongoing structural reforms geared towards unlocking market potential and deepening competition says FM
Union Minister of Finance & Corporate Affairs Nirmala Sitharaman presides over 16th Annual Day commemoration of Competition Commission of India (CCI), in New Delhi yesterday. The Union Finance Minister exhorted regulators to be guided by the principle of 'minimum necessary, maximum feasible' As India integrates further with global value chains and digital ecosystems, maintaining open and contestable markets will be crucial to India's competitiveness, she noted. Referring to India's aspiration of Viksit Bharat 2047, the Union Finance Minister emphasised that the ability of the CCI to strike a balance between regulatory vigilance and a pro-growth mindset will be integral to building a resilient, equitable, and innovation-driven economic framework. In an export-environment-energy-and-emissions challenged world, the increased reliance on domestic growth levers requires ensuring the right balance of regulation and freedom. The Union Finance Minister said that India's ongoing structural reforms are geared towards unlocking market potential and deepening competition. Mentioning the importance of "light touch regulatory framework" mentioned in the Union Budget 2025-26, Sitharaman emphasised on the imperative for regulators to be guided by the principle of 'minimum necessary, maximum feasible'.
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