After taking over as the law and commerce and industry minister Arun Jaitley asserted that reforms should be accompanied by modern technology, especially in fields such as intellectual property rights, IT and administration of justice.

He told reporters that there was a need for "quality people" at the helm of regulatory bodies.

"You need people with a nose for the market and should be able to regulate them," he said, adding there was a need to repeal a number of outdated laws.

Jaitley during his earlier stint as the law and justice minister, had repealed about 300 such laws.

On his priorities at the commerce and industry ministry, Jaitley said he would immediately familiarise himself with the nitty-gritties of the World Trade Organisation and would start meetings in this regard from Friday.

"There are areas of the ministry of commerce which require extensive study particularly in things related to WTO for which I had preliminary discussions on Thursday," he said.   

He refused comments on India's position on the WTO saying, "I do not wish to make any specific comment just on the basis of preliminary discussion."