New Delhi: Chief Economic Adviser K.V. Subramanian said that if this century has to belong to India then innovation has to be at the forefront. Therefore, competition policy in the context of innovation becomes really critical. He said these in his keynote address at the 4th edition of national conference on ‘Economics of Competition Law’ organised by Competition Commission of India here today.

Shri Subramanian also advocated for deterrence as a tool to make defaulting companies fall in line with set guidelines and follow pro-market behaviour. Deterrence is crucial for encouraging pro-market behaviour, he said citing an example of the Insolvency and Bankruptcy Code (IBC). The fear of defaulting companies to be…

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