The Indian competition law experience– its history and its (digital) future

Abstract

ABSTRACT Competition law is an economics-based law designed to regulate anti-competitive conduct of market participants. This article examines the economic circumstances in which India acquired its modern competition law and evaluates the sufficiency of this law for recent developments in India’s digital economy. Rapid technological developments and the emergence of virtual markets, networks and platforms in India suggest that the Indian competition authority, the Competition Commission of India (“CCI”), may need to adopt a more nuanced approach in identifying relevant markets than it has hitherto applied in respect of more traditional sectors. The rapid evolution of the digital economy also raises the basic issue of whether an economics-based law should have a definite structure or allow for flexibility of incorporating market dynamics. The article also reviews and analyses the recommendations made by the Competition Law Review Committee in this regard and the adequacy of the amendments proposed in the draft Competition Bill 2020.