The Indian competition law is broad enough to deal with new-age competition issues in digital markets, member of Competition Commission of India Sangeeta Verma mentioned on Tuesday.
She added that the Indian law has extra-territorial jurisdiction and might deal with market practices wherever on the earth 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 competition, regulation and growth organised by the CUTS International and CUTS Institute for Regulation and Competition in partnership with OECD, European University Institute and Overseas Development Institute.
“Multilateralism additionally failed to govern world public items like well being and surroundings,” mentioned.
Arancha Gonzalez, former overseas minister of Spain and former govt director of the International Trade Centre, expressed concern in regards to the sub-optimal stage of worldwide cooperation due to altering geopolitics when the world is dealing with COVID-19 disaster and financial restoration.
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