New Delhi, Mar 3 (PTI) Chief Economic Advisor V Anantha Nageswaran on Friday said competition drives innovation and emphasised that there is a distinction between competition and free markets.

He was delivering the keynote address at the National Conference on Economics of Competition Law here.

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Regulators and competition agencies can work in setting up the framework to prevent creation of barriers in the markets, he noted.

Competition does drive innovation, he said.

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According to him, there is always competition between competition regulators, and firms and markets.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)