Journey of Competition Reforms in India

Seminar/Forum

Journey of Competition Reforms in India

Since India adopted economic reforms in 1991, many pro-competitive steps were taken to unshackle the economy and turn it into a market economy. This included adopting sector regulators to regulate liberated service sectors, such as electricity, telephone and a modern competition law. Other than these reforms, many others were also adopted to take forward economic growth such as Ease of Doing Business and Insolvency law. This included the drafting of a National Competition Policy, which was inspired from the Australian experience. However, many of the reforms did not move smoothly due to legacy issues. The present government is determined to push more reforms so as to create more jobs, but there are many challenges.

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