The rise of the regulatory state has been a major feature of modern constitutional democracies. India, the world's largest democracy, is no exception to this trend. This book is the first major study of regulation in India. It considers how the development of regulation in India has altered the nature and functions of the state; how it is reshaping the relationship between business and the state; how it has called for the refashioning of established legal principles; and how it has raised new questions about the relationship between technical expertise and the rule of law. The chapters cover topics ranging from the foundations of the Indian regulatory state to the form of regulation across different sectors to regulation in practice. Together, the chapters reveal the challenges, promise, and limitations offered by contemporary regulatory practices, and they capture the close if sometimes fraught relationship that regulation must inevitably share with the political economy and constitutional schema within which it operates. Table of contents Part I Introduction 1. The Reality of Indian Regulation Devesh Kapur and Madhav Khosla Part II Foundations 2. Indian Administrative Law and the Challenges of the Regulatory State Raeesa Vakil 3. Reclaiming Indian Administrative Law Farrah Ahmed and Swati Jhaveri 4. Constitutional Regulation of the Fourth Branch K Vivek Reddy Part III Regulatory Domains 5. Securities Markets Umakanth Varottil 6. Banking Suyash Rai 7. Infrastructure Amit Kapur 8. Telecom Rahul Matthan 9. Renewable Energy Akshay Jaitly 10. The Environment Shibani Ghosh 11. Food Vikramaditya S Khanna 12. Big Data Ananth Padmanabhan and Anirudh Rastogi Part IV Regulation in Practice 13. The Enforcement of Indian Competition Law: Administrative or Regulatory? Aditya Bhattacharjea 14. Sanctions and Self-Regulation in the Securities Market Neel Maitra 15. Regulatory Pragmatism: The Use of the Ban Susan L Ostermann 16. Statutory Regulatory Authorities: Evolution and Impact KP Krishnan and Anirudh Burman 17. Building State Capacity for Regulation Shubho Roy, Ajay Shah, Justice (Retd) BN Srikrishna and Somasekhar Sundaresan