NITI Aayog member Rajiv Gauba today said that well-designed competition laws create the moral architecture of markets. Mr Gauba said this while addressing the 11th National Conference on Economics of Competition Law in New Delhi. He noted that in an emerging economy like India, competition law 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. The NITI Aayog Member said, India is aligning its regulatory posture with global peers with the aim to ensure that the Digital Highway remains open to all, not just the few who built the road. With the emergence of the new frontier of AI, Mr Gauba stressed the need for the competition toolkit to evolve to address the novel risks posed by AI.

 

The conference brought together scholars, practitioners, and experts working in the area of the economics of competition law.