Turmoil in technology requires stability in regulation

Turmoil in technology – as is the current case in the automotive world – requires stability in regulation. And I have every reason to believe that’s exactly what we can expect going forward.

Over three days of India’s largest tech & infra expo – the recently concluded 29th Convergence India and 7th Smart Cities India, organised by our parent company in New Delhi – I interacted with regulators and officials from various departments and ministries, and the sense that I came back with was one of optimism coupled with pragmatism.

One conference session in particular that I had the pleasure of moderating was on the ‘Future of Mobility’ with panellists that included Sanket S. Bhondave (IAS), PS to the Hon’ble Minister, and Kunal Joshi, Principal Consultant to the Hon’ble Minister, Ministry of Road Transport and Highways (MoRTH). 

https://www.youtube.com/watch?v=7bP2llhogrU

The message coming from two of the closest aides to the Minister was music to the ears of every delegate present. In a nutshell, the sentiment being expressed was that regulation needs to be market-driven and technology agnostic. Emerging technologies need some incentive, but just the right amount – if you over-regulate, you stifle innovation, but if you under-regulate the technology will likely never see the light of day.   

The same theory applies to the fuel of the future. It’s likely to be a case of survival of the fittest. As long as the customer has the ability to choose – i.e., people have access to different fuels and they’re aware of how to use them safely – the market will decide which fuel sources will prosper. And it could well be a case of different fuels for different applications – EVs and ethanol may work for passenger vehicles, while heavy vehicles may find LNG more suitable instead.

And this sense of pragmatism was coupled with optimism and bullishness on India’s future from both government and industry. While the fuel of the future may still be uncertain, what’s clear is that the geopolitics and global power structures are changing, and, amidst this ‘turmoil,’ leading voices in India are determined to make their mark on the world stage. 

Stability, predictability, and optimism are key going forward – an elusive trifecta to be sure, but one that appears finally within reach. Here’s hoping we can strike while the iron is hot…

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