Report and Proceedings from the Competition Law and Policy Roundtable

Abstract

To achieve competitiveness, the Government of India has strategically identified the manufacturing sector as the key to ensuring the return of India’s competitiveness. It has formed the National Manufacturing Competitiveness Council and has introduced a National Strategy for Manufacturing as well as a National Competitiveness Program. According to Dr. Krishnamurthy, these strategies have emphasized that the manufacturing industry must develop without subsidies or the use of protectionist measures. Instead, competition laws and regulations that encourage competition must be set up and enforced. Such a competition framework will create a market environment that will benefit consumers. He noted that wherever India altered the regulatory framework to promote competition, prices have come down. Other benefits that a country may enjoy include accelerated growth, lasting social benefit, a population that is gainfully employed, and the development of a business environment that promotes sustainable competitiveness and increased productivity on regional and global levels.