TABLE OF CONTENTS Declaration; Certificate; Acknowledgements; INTRODUCTION; 0.1 STATEMENT OF THE PROBLEM AND HYPOTHESIS; 0.2 DEFINITIONS OF SOME KEY TERMS; PRIVATISATION, REGULATION AND UTILITIES; 0.3 RESEARCH GOALS, RESEARCH QUESTIONS AND ARRANGEMENT OF CHAPTERS; 0.4 RESEARCH METHODS, SOURCES OF DATA COLLEGION, MODE OF CITATION ETC; CHAPTER I; BASIC ISSUES AND PRINCIPLES OF UTILITY REGULATION; 1.1 INTRODUCTION; OVERVIEW OF INTERNATIONAL EXPERIENCES WITH UTILITY REGULATION AND SCHEME OF THE CHAPTER; 1. 2 SECTION I; WHY REGULATE? -THE THEORIES OF REGULATION; 1.2.1 The Public Interest Theory of Regulation; 1.2.2 The Private Interest Theory of Regulation; 1.2.3 A new theory of regulation for developing countries?; 1.3 SECTION II; WHAT IS REGULATED? - THE TASKS OF A REGULATOR; 1.3.1 Fixing of Financial Returns/ Prices; 1.3.2 Regulation of Quality and Quantity of services; 1.3.3 Restrictions on Entry and Exit of Service Providers; 1.4 SECTION III ; How TO REGULATE? - THE ROLE, EXTENT AND NATURE OF OPTIMAL REGULATORY MECHANISMS; 1.5 SECTION IV; UNDERSTANDING THE THEORY AND CONCEPT OF THE INDEPENDENT REGULATORY AUTHORITY ("IRA") - A HISTORICAL SURVEY OF THE DEVELOPMENT OF THE INSTITUTIONAL FRAMEWORK OF REGULATORY AGENCIES IN THE UNITED STATES OF AMERICA; 1.6 CONCLUSION; 1.6.1 The paradigm shift in US regulation over the past century; 1.6.2 Lessons to be learnt from the California Energy Crisis and the Paddington Rail Disaster; CHAPTER II; THE LEGAL AND REGULATORY REGIME FOR THE INDIAN TELECOMMUNICATIONS SECTOR (1851-2001) - ANALYSIS OF TRENDS IN ITS REGULATION WITH EMPHASIS ON LIBERALISATION OF THE SECTOR; 2.1 'INTRODUCTION; 2.2 THE REGULATORY HISTORY OF INDIAN AND INTERNATIONAL TELECOMMUNICATIONS; 2.2.1 Brief History of the Indian Telecom Sector until the early 19905; 2.2.2 The state of the Indian Telecom Sector in 1991; 2.2.3 Broad overview of International Telecommunications Regulation; 2.3 THE FIRST STAGE OF THE LIBERALIZATION OF THE INDIAN TELECOM SECTOR (( 1991- 1996); 2.3.1 Initial measures of liberalization in the 1980s, the f992 opening up of the Value-Added Services, and the Tata Cellular Case; 2.3.2 The National Telecom Policy, 1994; 2.3.3 Issuing of licenses pursuant to NTP-94; 2.3.4 The Delhi Science Forum Case; 2.4 THE SECOND STAGE OF THE LIBERALIZATION OF INDIAN ELECOMMUNICATIONS (1996 - 1999); 2.4.1 The peculiar circumstances leading to the 'birth' of TRAI; 2.4.2 The TRAI Act, 1997 ; An analysis of its objectives, main provisions, and its institutional structure; 2.4.3 The functioning ofthe original TRAI between 1997 and 1999; 2.4.4 The last gasps of the original TRAI ; 2.5 THE THIRD STAGE OF LIBERALIZATION OF THE INDIAN TELECOM SECTOR (1999-2001); 2.5.1 The NTP-99 ; Reasons for its formulation, its contents and comparision with NTP-94; 2.5.2 NTP-99 on TRAI; 2.5.3 The TRAI Amendment Act, 2000; 2.5.4 The approach of the reconstituted TRAI and its uncertain future; 2.5.5 The Will controversy and the weaknesses of TRAI exposed by it; 2.6 CONCLUSION; lESSONS FOR THE FUTURE OF TELECOM REGULATION; 2.6.1 A broad a~sessment of the achievements of Telecom liberalization and the need for focusing upon Rural telephony; 2.6.2 An assessment of the Indian telecom market; Is it truly competitive and performing adequately?; CHAPTER III ; THE WTO REGIME FOR TELECOMMUNICATIONS AND ITS IMPACT ON THE LIBERALISATION OF THE INDIAN TELECOMMUNICATIONS SECTOR; 3.1 INTRODUCTION; 3.2 TELECOM AND DEVELOPMENT; OVERVIEW OF THE GLOBAL TELECOM SECTOR; 3.2.1 The causal links between Telecom and Development; 3.2.2 Brief overview of the Global Telecom industry; 3.3 THE NEGOTIATIONS ON TELECOMMUNICATIONS WITHIN THE WTO REGIME; 3.3.1 Brief History of the GATT, the WTO and the GATS; 3.3.2 Overall scheme of the GATS and some important terms and concepts; 3.3.4 The GATS Negotiations on Telecom; 3.3.5 The Impact of the Fourth Protocol on Global telecom; 3.4 INDIA'S COMMITMENTS ON TELECOM UNDER THE WTO REGIME; 3.4.1; The nature and scope of India's commitments under the Fourth Protocol to the GATS; 3.5 CONCLUSION; THE IMPACT OF THE WTO NEGOTIATIONS ON TELECOM UPON DOMESTIC TELECOM REGULATION IN INDIA; CHAPTER IV; AN ANALYSIS OF THE CONTROVERSY REGARDING MIGRATION OF LICENCES FROM THE NTP-94 TO NTP-99 (MARCH-AUGUST 1999); 4.1 INTRODUCTION; 4.2 THE BUILD-UP TO THE MIGRATION CONTROVERSY AND ITS DETAILS; 4.2.1 Issuance of licences under the NTP-94 and the peculiar methods adopted in the entire process of bidding leading up to the actual grant of licences; 4.2.2 Events immediately after granting of the bids leading upto March 1999; 4.2.3 The fallout of the aggressive stance adopted by the Union Communications Minister Jagmohan; 4.2.4 The Private Operators Hit Back; The Migration Package, and its details; 4.2.5 The Aftermath of the controversy; 4.3 ANALYSIS OF THE MIGRATION PACKAGE EXTENDED TO THE LICENCEES UNDER THE NTP-94; 4.3.1 The Attorney General's opinion approving the migration package and the reasons for such approval; 4.3.2 Criticism of the migration package from various quarters, and the response of the government; 4.3.3 Litigation on the Migration policy; 4.4 CONCLUSION; ANALYSIS OF THE MIGRATION PACKAGE FROM A LAW AND ECONOMICS PERSPECTIVE; CHAPTER V; CONCLUSION; BIBUOGRAPHY.