Delays in Regulatory Approvals Create Uncertainty: Finance Minister Nirmala Sitharaman

 

Finance Minister Nirmala Sitharaman on Tuesday expressed concern that delays in key regulatory approvals can lead to uncertainty in the business environment, affecting both domestic and foreign investors.

Speaking at the 16th Annual Day of the Competition Commission of India (CCI), the Finance Minister emphasized the need for quick and predictable decision-making, especially for new ventures and entrepreneurs entering the Indian market.

 

Sitharaman noted that while India has made significant progress in attracting global investment, it must also ensure that regulatory processes are streamlined to foster a more competitive and innovation-friendly ecosystem.

 

Key Quotes and Highlights:

• “Delays in necessary approvals lead to ambiguity, harming both competitiveness and innovation.”
• “Timely and predictable permissions enhance investor confidence and encourage market participation.”
• “Regulatory transparency must align with business reforms, government policies, and legal frameworks.”

She urged regulators to simplify licensing norms, adopt modern standards, and coordinate better with other regulatory bodies to facilitate ease of doing business.

The Minister also pointed out that uncertainty in approvals can discourage start-ups and innovators, who rely on swift decision-making to bring products and services to market.

The government, she said, is committed to creating an environment that balances competition, consumer protection, and entrepreneurial growth.