India’s regulatory landscape is set for radical revisions. The corner our nation has painted itself into. That’s a tall order when we’re addressing an under-resourced system that delivers justice while simultaneously needing to modernize archaic regulations yesterday. The good news is that the federal government has taken enormous strides to address these hurdles. Yet, not one operational license has been awarded across the nation so far. Judicial experts assert that this shocking stagnation points to a darker truth within India’s judicial system. It continues to be haunted by the colonial-minded legacies of repression and control.
The call for reform is underscored by the need for foundational thinking that clearly identifies essential functions and establishes checks and balances within regulatory frameworks. These principles are vital as India prepares for a futuristic world that demands substantial regulatory changes across various sectors, including urban infrastructure and emerging technologies.
One aspect needing special insistence is the changing face of elections in India. While electoral processes have developed over the decades, the introduction of electoral bonds has led to unintended consequences, further complicating the political landscape. Critics have put forth claims that these bonds, which use very obscurely-disguised alphanumeric codes, have further eroded the transparency and accountability of our political spending.
India is ambitious to incorporate new technologies like electric vertical takeoff and landing (eVTOL) aircraft. This effort is a truly multidisciplinary challenge. These types of innovations will require a smart regulatory approach that favors safety while encouraging innovation to flourish. Stakeholders highlight the need for coordination across government and the private sector to ensure these technologies can successfully be adopted.
In addition, the nature of the state’s engagement with its people — especially Indians living in Middle India — calls for immediate restoration. Their citizens surely will be demanding better treatment and representation in their own governance. Reimagine the future of transportation with us! At the same time, press freedom in India is under increasing danger from conflicts of interest among media proprietors, posing grave threats to journalistic autonomy.
To address these evolving, multilayered challenges, forward-thinking action is required. Startup independent directors, boards, and auditors need to step up and help get the house in order and hold startups accountable to allow for innovation but ensure ethical practices. These fundamental components are the foundation of the health of India’s entrepreneurial ecosystem.