Khattar Calls for India to Frame Its Own Rules Amid Global Trade Tensions
Union Power Minister Manohar Lal Khattar has emphasized India's need to establish its own regulatory framework rather than following global rules, speaking at the inauguration of the Centre of Excellence for Regulatory Affairs at IIT Delhi. The Minister highlighted ongoing global trade tensions, including 50% tariffs on Indian imports and threatened tariffs on European countries, while calling for India-centric regulations that ensure equitable development without compromising public interest.
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Union Minister for Power, Housing and Urban Affairs Manohar Lal Khattar has called for India to establish its own regulatory framework, emphasizing that the world follows its own rules and it is time for India to do the same. Speaking at the inauguration of the Centre of Excellence for Regulatory Affairs in the Power Sector at IIT Delhi, the Minister highlighted the need for India-centric policies amid ongoing global trade tensions.
Global Trade Dynamics and Regulatory Independence
Khattar made indirect references to current international trade disputes, noting that "one big country which was staring at India has now started staring at European countries." Without naming specific nations, he questioned how long such confrontational approaches would continue. The Minister's remarks come against the backdrop of significant trade policy developments affecting multiple countries.
Recent trade policy changes have created a complex global landscape:
| Development | Details |
|---|---|
| Tariffs on India | 50% tariffs imposed on imports from India |
| Reason Cited | Absence of bilateral trade pact and continuation of Russian oil imports |
| European Targets | Threatened 10% tariffs on Germany, France, UK, Denmark, Norway, Sweden, Finland, Netherlands |
| Implementation Date | February 1st for European tariffs |
Power Sector Regulatory Framework
The Minister stressed the importance of developing regulations that serve India's developmental goals rather than adopting frameworks designed for other contexts. He urged regulators, particularly in the power sector, to work toward creating rules that could eventually influence global standards. Khattar emphasized that sectoral reforms are essential to boost both efficiency and investment potential in India's power sector.
The Centre of Excellence for Regulatory Affairs in the Power Sector at IIT Delhi represents a significant step toward building indigenous regulatory expertise. This initiative aims to develop comprehensive understanding of regulatory mechanisms that align with India's specific requirements and developmental objectives.
Balanced Approach to Regulation
Khattar described regulations as necessary "brakes to avoid risks," but emphasized that such measures should be applied judiciously. He criticized previous governments for applying regulatory brakes excessively, which he claimed slowed overall development. The Minister advocated for a balanced regulatory approach that ensures public interest protection while facilitating growth and investment.
On a lighter note, Khattar mentioned ongoing research into generating power from sound energy, suggesting such technology could potentially be deployed in the Indian Parliament. This reference highlighted the innovative approaches being explored in India's energy sector.
Strategic Vision for Regulatory Leadership
The Minister's call for regulatory independence reflects a broader strategic vision for India's role in global governance frameworks. By developing robust, context-appropriate regulations, India aims to create standards that could influence international practices rather than merely adapting to existing global norms. This approach is particularly relevant in the power sector, where India's massive scale and unique challenges require tailored solutions.
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