Accelerating Approvals: India's Push for Swift Regulatory Clearances

Finance Minister Nirmala Sitharaman has called attention to the detrimental effects of delays in regulatory clearances, which can cause uncertainty and disrupt commercial timelines. Speaking at the 16th Annual Day of the Competition Commission of India (CCI), she stressed the importance of regulatory frameworks that facilitate swift approvals without harming competition.

Sitharaman emphasized CCI's role in safeguarding liberalization while curbing excesses. She warned that government policies and regulations should not hinder competition, as India negotiates trade deals with global powers like the US and EU. Entry barriers and opaque regulations can derail negotiations and investor confidence, she noted.

The minister also highlighted the Green Channel mechanism for automated approval of benign mergers. She further stated that India's structural reforms aim to deepen competition and unlock market potential as the country integrates with global value chains. The CCI remains central in ensuring fair competition and fostering innovation.

(With inputs from agencies.)