Transition to a liberalized environment experiences and issues in regulation: proceedings of the conference held on 3rd and 4th Feb,1999 in New Delhi, India

Natural monopolies are increasingly being subjected to independent regulation in order to ensure adequate and efficient mobilization of resources, facilitate optimal utilization of capacity, and protect the interests of the consumer. India's nascent experience in the transition from government control of its Infrastructure sector to a competitive environment is now on the right track, albeit slow. The national conference on 'Transition to a liberalized environment: experiences and issues in regulation' organized by TERI took stock of the regulatory reform status, compared experiences with other countries, and pointed towards a road map for India. Cross-cutting issues in infrastructure regulation in sectors such as power, telecom, ports, and oil and gas were discussed by regulators, regulated entities, academia, and other stakeholders. Deliberations centred around themes such as the regulatory framework, market structure, tariff issues, and future directions for India's regulatory reforms. The participants of the conference made a case for the preparation of an overarching model legislation on regulation; a permanent forum for regulatory bodies; strengthening regulatory research; training of regulators, consumer groups, and other stakeholders; and dissemination of information on regulation. Making sector-specific recommendations, the conference emphasized the need to strengthen the regulatory bodies. The recommendations indicated that a possible direction could be set for independent regulation in the infrastructure sector and that it should be flexible, innovative, and dynamic. The proceedings of the conference cover its 20 sessions, with the issues detailed and the various viewpoints emerging in the discussions reflected adequately. It hopes to serve as a ready reference to the issues in regulation in the infrastructure sector in India.