Retail Regulator in India

Indian Retail Industry, fifth largest in the globe and has the growing size of 50 Billions of USD. We have IRDA for Insurance regulation, TRAI for telecom and RBI for Banks regulation. Indian retail industry is growing and it is one of the fastest among many industries in India. We hear Wal-Mart having tie up on Knowledge Management with Bharti group, Tesco with Tata and Indian grown Future group Big Bazaars, Pantaloons, Brand factories are few to talk about growing potential of Indian retail industries. Is it not time to think about retail industry regulator in India?