'Dismantling inspector raj will...': Naukri.com founder Sanjeev Bikhchandani calls PM Modi's Deregulation Commission plan a game-changer
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Veteran investor and serial entrepreneur Sanjeev Bikhchandani has lauded the PM Narendra Modi's move to establish a Deregulation Commission, calling it a game-changer for India’s economic growth. Bikhchandani believes that dismantling excessive regulatory barriers and eliminating the 'inspector raj' could boost India’s GDP growth by 2% to 3% annually, with tangible effects visible within three years. However, he also cautioned that the initiative may face resistance.
"Excellent move. Deregulation and dismantling of the inspector raj will easily add 2% to 3% per annum to India’s GDP growth. And the impact will be felt immediately - within three years. Sure shot route to Viksit Bharat. Expect pushback from entrenched vested interests though," Bikhchandani wrote on X.
Bikhchandani, who is the force behind the technology holding company Info Edge, under which comes properties like Naukri.com, etc, made these comments in response to PM Modi's announcement on Saturday where he underscored his government’s commitment to reducing bureaucratic red tape and fostering an environment conducive to business. The commission, Modi asserted, will further streamline governance and strengthen India’s position as a global investment destination.
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“For decades, India’s business landscape has been stifled by outdated regulations and excessive government oversight. Through bold reforms, we have shifted from a ‘fear of business’ mindset to an ‘ease of doing business’ framework,” Modi said, emphasising that his government’s reforms stem from “conviction” rather than “compulsion.”
Since coming to power, the National Democratic Alliance (NDA) government has undertaken sweeping policy overhauls, including the implementation of the Goods and Services Tax (GST) and the scrapping of hundreds of archaic compliance norms. Modi pointed out that the Jan Vishwas 2.0 initiative, an upgraded version of the Jan Vishwas Act, 2023, is the latest step in this direction, aimed at removing outdated provisions hampering business growth.
Bikhchandani’s endorsement signals strong support from the investor community, which has long advocated for regulatory simplification.