The Forum of India Regulators (FOIR) Centre at Indian Institute of Corporate Affairs (IICA) concluded a colloquium for the Central sector regulators on the theme "Cross-Sectoral Collaboration: The Imperative for Regulatory Convergence." The colloquium, held on August 1-2, 2023 at Agra brought together esteemed Chairpersons and Members of FOIR member bodies fostering meaningful and effective conversations about the potential for convergence in regulatory efforts. The event focused on sector-specific discussions among Central sector regulators, aiming to address the complex interdependencies and interconnectedness between different sectors.

Shri B.S. Bhullar (Chairperson, Airports Economic Regulatory Authority & Honorary Chairman, FOIR) appreciated the efforts of FOIR and acknowledged the significant contribution of the IICA as a knowledge partner. He highlighted the pivotal role of performance standards in ensuring healthy competition in the Indian scenario.

Dr P D Vaghela (Chairperson, Telecom Regulatory Authority of India & Honorary Vice-Chairman, FOIR) set an enthusiastic tone for the session by emphasising the need for a collaborative approach to address technological advancements and changing times. He suggested various ways of collaboration, including infrastructure co-creation and co-sharing, collaborative regulation, and cooperation at the national and international levels.

Shri Jishnu Barua (Chairperson, Central Electricity Regulatory Commission & Honorary Vice-Chairman, FOIR) highlighted the importance and relevance of several measures in the electricity sector to ensure fair competition and protect consumer interests, such as Open Access, Power Purchase Agreements (PPAs) and Competitive Bidding.

Shir Anjani Kumar Tiwari (Member, Petroleum & Natural Gas Regulatory Board) provided valuable insights into core aspects of Environmental and Social Impact Assessment (ESIA) and methods of its implementation to mitigate adverse environmental and social impacts.

Prof (Dr) Naveen Sirohi (Director, FOIR Centre and Founding Head, School of Finance at IICA) moderated the interaction and delivered the valedictory address, emphasising the critical importance of collaborative efforts and regulatory convergence in our ever-evolving regulatory landscape.

Through knowledge exchange and sharing of experiences, the chairpersons and members gained a deeper understanding of intricate issues, paving the way for more impactful regulatory strategies towards convergence. The regulatory panel unanimously agreed on the need for fostering collaboration and cooperation to address common challenges, sharing best practices, and enhancing the effectiveness of regulatory frameworks in India. The colloquium for the Central sector regulators of FOIR member bodies concluded with renewed enthusiasm and a commitment to continuous collaboration in shaping the future of India's regulatory landscape.

About FOIR Centre, IICA:

The FOIR Centre at IICA provides capacity building, education, research and advocacy support to FOIR Secretariat for academic upgradation and intellectual development for members and officials of FOIR member organisations.

Regulatory convergence promotes cross-sector collaboration to align performance standards, shared infrastructure and cooperative regulation for interdependencies. Cross-sectoral regulatory convergence is advanced to address interdependencies by aligning regulatory objectives, sharing knowledge, and adopting cooperative governance practices. The colloquium promoted collaborative regulation through infrastructure co-creation and co-sharing, national and international cooperation, and harmonisation of performance standards. Operational measures discussed included Open Access, Power Purchase Agreements and Competitive Bidding in electricity, and implementation methods for Environmental and Social Impact Assessment. The FOIR Centre at IICA was identified as a capacity-building and advocacy partner to sustain ongoing collaboration and institutionalise convergent regulatory strategies.