Regulatory impact assessments gain statutory urgency in India's trade framework. Multiple government committees and recent free trade agreements now emphasize the need for institutionalizing regulatory impact assessments through central legislation. India's trade pacts, including the UK Comprehensive Economic and Trade Agreement, now include RIA provisions as core good regulatory practices. A statutory framework for assessing regulatory costs and benefits would strengthen India's legislative process, making it more evidence-based, transparent, and business-friendly. As modern trade agreements increasingly embed RIA requirements, India must enact dedicated central law to ensure meaningful implementation. This legal anchor would standardize regulatory quality across government measures affecting trade and commerce.
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