The Competition Commission of India (CCI) organised the 10^th National Conference on Economics of Competition Law in New Delhi today. Shri Harsh Malhotra, Minister of State in the Ministry of Corporate Affairs; and Minister of State in the Ministry of Road Transport and Highways was the Keynote Speaker at the Conference. Smt Ravneet Kaur, Chairperson, Competition Commission of India delivered the Special Address at the Inaugural Session of the Conference. The Conference, which brings together scholars, practitioners, and experts working in the area of economics of competition law, is being organised by the CCI every year since 2016.

In his Keynote Address, highlighting the high-growth trajectory of the Indian economy, Minister of State Shri Harsh Malhotra underscored the importance of competition law in ensuring fair competition and a level playing field in markets.

He emphasized the crucial role of the MSME sector, which contributes 80% of manufacturing output, 45% of exports, and 30% of India’s GDP. It is important to watch the interest of stakeholders, including MSMEs, to provide them with fair opportunities to compete and innovate, he said. In this context, he complimented CCI for its impactful role in curbing abusive conduct of dominant enterprises.

Commending the Commission for its well-considered decisions, he highlighted the need for real-time market monitoring and a collaborative approach to regulation. It is essential to enforce law beyond strict intervention by promoting self-regulation and compliance, he added. He encouraged the Commission to actively engage with stakeholders, including industry associations, and consider their viewpoints. He stressed on the importance of including the younger generation in deliberations to bring fresh and new perspectives. The Government has kept in mind the views of the stakeholders, be it policies, government schemes or regulations, he mentioned. Acknowledging the significance of the Conference, he said that such deliberations and brainstorming sessions would immensely contribute to India’s economic growth in the future.

The Minister stated that the Ministry of Corporate Affairs (MCA) aims to foster an ecosystem where fair competition benefits both businesses and consumers, leading to dynamic and vibrant marketplaces. He concluded by stating that India's economic future depends on market strength, which, in turn, relies on fair competition—making it not just a legal or economic necessity but a national responsibility.

Smt. Ravneet Kaur, Chairperson, CCI, in her Special Address, stated that regulators are adopting a dynamic approach to address the issues emerging in increasingly complex markets and rapid innovation in technology. She said that the goal is to balance innovation with competition, ensuring fair and open markets, where competition and technological progress can coexist. Alluding to Artificial Intelligence (AI) as a driving force in modern markets, Smt. Kaur stressed on the need for regulators to stay abreast and ahead in the AI era to deal with algorithmic collusion, uncover hidden anti-competitive behaviour, and protect consumers in markets increasingly shaped by AI. In this context, she also discussed the role played by Market Studies as a critical tool in proactive regulation. These studies provide a comprehensive analysis of market structures, business models, arrangements amongst players and potential competition issues, she said. 

Referring to the competition law enforcement regime in India, Smt. Kaur said that the regulatory landscape has evolved significantly with the introduction of the Competition Amendment Act, 2023, to address the emerging challenges and strike a balance between enforcement and market-friendly resolution. She talked about the various regulations introduced in the last one year to operationalise the Competition Amendment Act 2023, with extensive consultations involving all key stakeholders. She further apprised the developments in antitrust enforcement and merger enforcement in 2024. The Competition Commission of India remains committed to fostering fair competition, ensuring market integrity, and enhancing enforcement efficiency, she said.

The Conference, in addition to the Inaugural Session, featured two technical sessions on ‘Digital Dynamics: Markets, Competition & Innovation’; and ‘Exploring Mergers: Structure, Competition and Synergy’ where researchers presented papers on economics of competition law. The first session was chaired by Dr. Nishant Chadha, Director, Policy and Research, Indian School of Business. Dr. Uday Bhanu Sinha, Professor, Delhi School of Economics chaired the second session.

The National Conference concluded with a Plenary Session on ‘Settlement and Commitment: A New Era of Trust-Based Fast-Track Market Correction’ which was moderated by Shri Prasanto Kumar Roy, Senior Adviser, FTI Consulting.

****

NB/AD

(Release ID: 2111638) Visitor Counter : 807