Governance and Regulatory Architecture of Commerce Education in India: Roles of UGC, Universities, and Accreditation Mechanisms

Commerce education occupies an important place in the Indian higher education system. The rapid expansion of institutions and programs has intensified the need for good governance and regulation to maintain curricular relevance, academic standards, and institutional accountability. This study discusses the regulations and governance architecture of commerce education in India through the analysis of the roles of the University Grants Commission, universities as academic intermediaries, and accreditation bodies like the National Assessment and Accreditation Council. Based on scholarly literature on higher education governance, policy analysis, and regulatory documents, the study examines how these institutional players influence curriculum regulation, academic standards, and quality assurance. The discussion reveals that governance reforms, especially under the National Education Policy 2020, have brought in more outcome-oriented frameworks, flexibility, and multidisciplinary approaches. Nonetheless, there are still major obstacles/challenges, such as coordination gaps in policy implementation, overlapping mandates among regulatory bodies, uneven institutional readiness, and digital infrastructure disparities. Despite these challenges, universities remain an important intermediary in translating the national policies into institutional practice, especially under the affiliated college system. The study advocates for a more coherent regulatory architecture that would strike a balance between institutional autonomy and accountability while reinforcing quality assurance and responsiveness to the evolving professional and labour market requirements.