Since the 1980s, regulation has been a dominant mantra in economic reforms in developed countries. The Government of India (GoI) too, in the wake of reforms in the 1990s, zealously appointed regulators as an alternative to the direct control of industries—in telecommunications, banking, capital markets, insurance, hydrocarbons and electricity. But Indian regulatory authorities have by and large been ineffective. In this pioneering study of India’s telecom ...
