Arun Jaitley: Indian economic expansion going to be exponential
Finance Minister Arun Jaitley today said that the excessive competition at times can result in stress in a particular sector, pointing out that these are challenges of a growing economy. At an event organised by anti-trust regulator Competition Commission of India, FM Jaitley made a number of comments on the state of Indian economy, competition amongst corporates and CCI role in it.
Arun Jaitley
Arun Jaitley: Excessive competition at times can result in pricing of nature that the sector of the economy itself feels stressed because everybody then tends to follow the leader. Image source: PTI
Arun Jaitley
Arun Jaitley: What do you do in a such situation. These are all challenges which are going to emerge as economy moves further and expands further. Image Source: Reuters
Arun Jaitley
Arun Jaitley: If the current growth rate continues for a decade or two, Indian economic expansion is going to be exponential. Image Source: Reuters
Arun Jaitley
Arun Jaitley: The size is going to increase, the size of industry is going to increase, the size of services sector will increase and the role of each regulator while exercising self restraint will also expand. Image Source: PTI
Arun Jaitley
Arun Jaitley: With the growing economy, the role of each regulator will expand. Image Source: Reuters
Arun Jaitley
Arun Jaitley: The government wanted effective market players, reasonably optimum in number so that the consumer interest is protected. That was the object of the competition law when the state withdraws and leaves the economy to markets. Image Source: Reuters
Arun Jaitley: What happens is that aberration develops in the market. So for that purpose, a regulator with a keen eye on the markets was created and that was the Competition Commission of India. Image Source: Reuters
Captions by: PTI