The Economic Survey 2025 rightly highlights deregulation as a game-changer for India’s economic growth. Industrial sectors such as steel, textiles, and chemicals remain trapped in a maze of excessive regulations that stifle efficiency and competitiveness.Take steel, for instance: despite imports accounting for just 6% of India’s consumption, cumbersome procedures continue to hinder seamless trade. The delays in issuing NOCs, the complex registration process at the SIMs portal, and the sluggish approval of foreign suppliers by BIS create a nightmarish experience for businesses. In one instance, a company was forced to pay demurrage equal to half the consignment’s value simply due to bureaucratic red tape. Such inefficiencies discourage entrepreneurship and deter investors looking for a predictable and business-friendly environment.
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