India News | NCLAT Chairperson Calls for Developing Robust Mechanism to Regulate Digital Markets

New Delhi, Oct 12 (PTI) Effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent to deal with complex challenges, NCLAT Chairperson Ashok Bhushan said on Thursday.

Emphasising the importance of having free and fair competition in the market place, he also said there is a need for robust mechanism to regulate digital markets.

Also Read | West Bengal: Three Killed, Four Missing Following Land Subsidence in Open Cast Coal Mine in Raniganj.

He was delivering the keynote address at the eighth BRICS International Competition Conference 2023 in the national capital.

Strong anti-trust enforcement is an essential element of the overall public policy design governing the companies, he said.

Also Read | Sameer Wankhede Death Threat: Mumbai Police Probe Alleged 'Death Threats' Received by IRS Officer on Social Media.

Further, he noted that an effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent in order to deal with complex challenges.

More than 600 delegates are expected to participate in the conference that concludes on Friday. Last time, this conference happened in India in 2013.

According to the Chairperson of the National Company Law Appellate Tribunal (NCLAT), free and fair competition is a key pillar for the market economy.

Incorporation of sustainability into competition law had the potential to stimulate innovation, development of cleaner technologies, renewable energy sources and sustainable solutions across various industries, he noted.

(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)