Standards and Regulation in India

India ranks number 134 out of 183 in the World Bank’s Ease of Doing Business Index (2010), which is deflated by its intricate legal system. The primary financial regulators within India include the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) the Insurance Regulatory and Development Authority (IRDA), and the Forward Markets Commission (“FMC”). Prominent non-financial regulators include the Telecom Regulatory Authority of India, Central Electricity Regulatory Commission and the Competition Commission of India. India is a member of the International Organisation for Standardisation (ISO), with the Bureau of Indian Standards (BIS) being the coordinating bureau for standards.