NITI Aayog Member Rajiv Gauba Calls for Deregulation as Key Pillar of India's Next-Generation Reforms

In an official press release issued by the Press Information Bureau, NITI Aayog Member Rajiv Gauba outlined a clear vision for India's next phase of economic transformation during the Global Fintech Fest 2026 in Mumbai. Participating in a session titled "From Regulation to Transformation: Building India's Next-Generation Reform Architecture," Gauba stated that systematic deregulation should be the defining feature of future national reforms. He highlighted that over the past decade, structural initiatives such as the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), and foreign direct investment relaxations have fundamentally reshaped critical sectors like defence, space, and nuclear energy.

Gauba emphasized that future reforms must focus on eliminating cumbersome licensing, approval, permission, and renewal regimes that hamper business operations. A High-Level Committee guided by trust-based governance is currently evaluating regulatory reviews, while a dedicated Deregulation Task Force is extending these principles to state and municipal levels. Regarding financial technology, Gauba praised India's digital public infrastructure—including Aadhaar and UPI—for expanding financial inclusion and positioning the country as a global fintech powerhouse, stressing the ongoing need for balanced, innovation-friendly oversight.