 "Ravneet Kaur")
Fair trade authorities have a critical role to play in the digital sector, where a handful of dominant platforms could harm the interests of consumers, according to Ravneet Kaur, chairperson of Competition Commission of India.
Rapidly evolving markets and technology have created fresh challenges and new dimensions in competition law and policy.
“Our enforcement experiences and market studies have helped us understand these markets better. We are all upgrading, supplementing our toolkits, and plugging enforcement gaps,” said Kaur in a speech at the 8th Brics (Brazil, Russia, India, China, and South Africa) International Competition Conference on Thursday.
Stressing that digital technology can be a force multiplier in achieving growth, inclusion, and innovation, nations should share their experiences to optimise efforts to ensure digital markets remain free and competitive.
“We must also build collective capacity in the fields of artificial intelligence, blockchain, and algorithms as the digital transition progresses,” Kaur said.
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“It is useful to have a conversation about what guides the choice of instruments, why, and in which specific cases and contexts we would prefer soft law enforcement mechanisms.”
Kaur urged countries to share practical insights and best practices to address emerging competition issues and improve fair trade laws.
The Brics conference is being attended by 600 delegates from Brics and other nations, competition law experts, non-government advisors, and domestic invitees.
“This network has also given us a valuable opportunity to view competition governance through the lens of the Global South,” said Kaur in her opening remarks.
In the plenary session on Brics Joint Documents, reports on the Leniency Programme and Digital Economy were also released. The report on the Review of Leniency Programmes in the Brics countries highlights the significance of leniency programmes in detecting cartels for Brics competition authorities.
International cartel investigations involve multiple jurisdictions and competition authorities, underscoring the need for a shared understanding to navigate complex enquiries effectively, as highlighted in the report.
