‘Regulators need to work in tandem'
Business line, April 20,
Competition Commission of India and sector
regulators need to coordinate for the regulatory
mechanism to be more effective, Mr Dhanendra
Kumar, Chairman of the Competition Commission of
India, said here on Tuesday.
There is a greater
need for a more inclusive consultation to act and take policy
decisions, Mr Kumar told an international conference on ‘Reviewing
the Global Experience on Economic Regulation', organised by CUTS
International and CUTS Institute for Regulation & Competition.
Over 60 experts from around the world are taking part in the
Speaking at a session,
Mr Arun Maira, Member, Planning Commission, said, “It is important
to identify indicators of market failure and do necessary
readjustment in the system of economic governance.
regulatory mechanism is an essential requirement for that to
Delivering the keynote
address, Dr C. Rangarajan, Chairman of the Prime Minister's
Economic Advisory Council, said that well-functioning markets and
regulatory failures co-exist in a real world.
He said it was
critical for governments involved in designing regulatory
institutions to be aware of three main objectives of economic
regulation -- promote investment, protect consumers and catalyse
efficiency in the production process.
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