The Indian competitors legislation is broad sufficient to cope with new-age competitors considerations in digital markets, member of Competitors Fee of India Sangeeta Verma mentioned on Tuesday.
She added that the Indian legislation has extra-territorial jurisdiction and might cope with market practices anyplace on this planet if it has anti-competitive results in India.
There exists a bargaining energy imbalance between digital platforms and enterprise suppliers in digital markets, Verma famous.
She was talking throughout a convention on competitors, regulation and growth organised by the CUTS Worldwide and CUTS Institute for Regulation and Competitors in partnership with OECD, European College Institute and Abroad Growth Institute.
“Multilateralism additionally failed to manipulate international public items like well being and surroundings,” mentioned.
Arancha Gonzalez, former international minister of Spain and former government director of the Worldwide Commerce Centre, expressed concern in regards to the sub-optimal stage of worldwide cooperation because of altering geopolitics when the world is coping with COVID-19 disaster and financial restoration.
(Solely the headline and movie of this report might have been reworked by the Enterprise Commonplace employees; the remainder of the content