Volume : 9, Issue : 3, MAR 2023
DRA ANNUAL NATIONAL CONFERENCE ON RESEARCH, EDUCATION AND SUSTAINABLE DEVELOPMENT: OPPORTUNITIES & CHALLENGES
COMPETITION POLICY IN INDIA – DURING AND AFTER COVID-19 PANDEMIC
SANTOSH DUDI
Abstract
The objectives of competition policy in India are the creation of an active competitive environment and to aid and abet the process of creating globally competitive firms with enhanced investment and technological capabilities. To achieve these objectives, the government will need to play a proactive role. Rather than restricting themselves to issues conventionally covered by competition law, the authors consider, as part of competition policy, all those policy instruments that impinge on the promotion of competition in markets. Consequently, policies relating to trade, investment and technology development also come under the purview of competition policy insofar as they impinge on the process of competition. The formulation and implementation of an effective competition policy in the current context is a difficult task as it needs to be consistent with other policies which are transforming India into a liberal open economy.
The corona virus (COVID-19) pandemic has provoked a public health crisis without precedent in living memory. In addition to causing large-scale loss of life and severe human suffering, the pandemic has also set in motion a major economic crisis that will burden our societies for years to come. The OECD is contributing to a co-ordinate policy response across countries and competition policy is one dimension of that response. History has shown that the same basic principles of competition economics apply during times of economic recession as during times of economic expansion. Sound competition policy is all the more important in moments of crisis to ensure that the crisis is solved and the subsequent economic recovery, as fast and sustained as possible. This requires competition authorities to act today to help the overall policy response of governments to deal with this crisis in a sustainable way. Governments need to be receptive to advise from competition authorities to make sure that competition principles can be respected and help pave the way to recovery.
This paper conclude the competition-related responses that can help guide the actions of governments and competition authorities in today's challenging times.
Keywords
COMPETITIVE ENVIRONMENT, ECONOMIC RECOVERY, POLICY RESPONSE, PANDEMIC, COMPETITION AUTHORITIES.
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References
1. https://t.me/lawyerscommunity
2.https://blog.ipleaders.in/covid-19-and-the-competition-law-in-india/