Business Ethics and Corporate Governance, Second Edition

CHANGE IN THE MINDSET NEEDED

Though our policy makers have realized of late the importance of competition for a growing economy in a globalized market, there is still a blurred vision among them in understanding and implementing a competition policy.

Pradeep S. Mehta in his article ‘Competitiveness via Competition’ in Economic Times (23 November 2004) argues: ‘It is important to understand the distinction between competition policy and competition law. Competition policy, which we do not have, needs to be a stated government intent on how it aims to promote competition in our economy. It will envelop various other policies, viz., investment, trade, labour, consumer etc. to ensure that wherever there are conflicts, decisions to promote competition ...