Taming regulatory excess in retail markets Published Jul 18, 2021, 2:18 am IST Updated Jul 18, 2021, 2:18 am IST Sadly, legislation, in democracies, is strongly influenced by political economy which dilutes technical good sense News How should government balance the interests of retail sellers whilst protecting the interests of consumers? Even handed legislation and transparent, market-based rules to kindle higher investment and growth, better employment opportunities and higher tax collection from trade would be the long-winded answer. Sadly, legislation, in democracies, is strongly influenced by political economy which dilutes technical good sense. Legislators choose to benefit a set of citizens versus others. Political economy is upfront in defining the rules for e-commerce — the bright new kid in retail markets — which accounts for around seven per cent of the estimated retail turnover of Rs 65 trillion (2020) but is expected to grow at 2X the average growth rate in retail.