'Unfinished Business': Rajiv Gauba Recalls License Raj Horrors as NITI Aayog Pushes Bold New Reforms

At the 2026 CII Summit, NITI Aayog’s Rajiv Gauba delivered a stark reminder of India’s restrictive past to highlight the urgency of current reforms. Citing the "License Raj" where companies destroyed excess production to avoid prosecution, Gauba argued that while those days are gone, the bureaucratic mindset remains "unfinished business." He credited the current leadership’s conviction not compulsion for transformative shifts like the GST, space sector liberalisation, and the India Semiconductor Mission. By moving toward a "permitted unless prohibited" model, the government aims to ensure India never again pays the price of stifled productivity and lost economic efficiency.