We want a Competition Commission to look at things from point of view of today's situation
Channel: KNN India Knowledge & News Network
Date: 02/03/2017

India wants a Competition Commission that is going to look at things from the point of view of today's situation of the country rather than thinking to be in a completely free market and the country needs a regulator that is minimal or don't need a regulator, Commerce & Industry Minister Nirmala Sitharaman said.

She said this on the sidelines of national conference on Economics of Competition Law, organised by the Competition Commission of India (CCI).

Sitharaman also said that India needs a Competition Commission that responds with "nuanced positions" in the current transitory phase of the economy so that temptations leading to oligarchic practices or monopoly or cartelisation are avoided.

She said it may not be right to compare the progress made by India with China or even Singapore. India has been adopting a more cautious approach in its transition from a socialist to a more free economy.