India’s business regulation framework needs a 21 st -century rethink. This paper provides the basis for it. It seeks to deepen the debate around economic reforms in the world’s fifth-largest economy, which is headed towards becoming the world’s third largest before 2030. Using newly isolated data, it collects, compiles and analyses 26,134 specific clauses in the country’s business legislations, rules and regulations that impose prison terms for violations. As it explores the discourse around what this report calls “regulatory cholesterol” (defined below) that places hurdles before India’s entrepreneurs, it situates itself within the ongoing policy discussions around reducing imprisonment clauses in India’s business laws. In March 2020, for instance, the Union Cabinet made clear its legislative intent to rationalise such clauses by approving related amendments in the Companies Act, 2013. [1]
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