NITI Aayog member Rajiv Gauba stated today that well-designed competition laws create the moral framework for markets. Speaking at the 11th National Conference on Economics of Competition Law in New Delhi, Mr. Gauba highlighted that in an emerging economy like India, competition laws and regulations serve multiple development and governance goals by preventing entrenched monopolies, promoting open entry and opportunities for small businesses, and helping integrate the economy into global value chains. Mr. Gauba, a member of the NITI Aayog, said that India is aligning its regulatory approach with that of other countries, with the aim of ensuring that the Digital Highway remains open to all, not just those who built it. He also emphasized the need for the competition toolkit to evolve to address the novel risks posed by AI, given the emergence of this new frontier.
The conference brought together scholars, practitioners, and experts working in the field of the economics of competition law.