Radhika Gupta, the Managing Director and CEO of Edelweiss Mutual Fund, has praised US President Donald Trump’s recent executive order, which aims to reduce regulatory burdens by mandating the removal of 10 existing rules for every new one introduced by any agency. Gupta took to social media to express her admiration for the move, stating that it will help keep regulations up to date without increasing the cost of compliance. She compared the approach to a mother asking her child to get rid of old shoes before buying a new pair, highlighting the benefits of limiting “cupboard space” and “cost spent” on compliance.
The executive order, signed by President Trump on January 31, 2025, is part of a broader initiative to reduce regulatory burdens and promote economic growth. The order requires agencies to identify at least 10 existing rules or regulations to eliminate before introducing a new one. The Director of the Office of Management and Budget will oversee the implementation of this initiative, ensuring standardized measurement and estimation of regulatory costs.
The Trump administration has argued that excessive regulation is a major obstacle to economic growth, entrepreneurship, and innovation. The White House release accompanying the executive order claimed that the Biden administration had imposed $1.7 trillion in costs on the American people through overregulation. The Trump administration believes that its 10-to-1 deregulation initiative will help to mitigate this problem, promoting job creation, consumer choice, and innovation.
Gupta’s endorsement of the executive order reflects her appreciation for the potential benefits of regulatory reform. By streamlining regulations and eliminating outdated rules, the Trump administration hopes to create a more business-friendly environment and stimulate economic growth. While the effectiveness of this approach remains to be seen, Gupta’s comments suggest that some industry leaders are optimistic about the potential benefits of regulatory reform. Overall, the executive order represents a significant shift in the US regulatory landscape, with potential implications for businesses, consumers, and the broader economy.