Union minister Harsh Malhotra pitches for real-time markets monitoring to ensure fair competition

New Delhi: Union Minister Harsh Malhotra on Sunday pitched for real time monitoring of markets to ensure fair competition as well as help protect the interests of MSMEs.

Speaking at the 10th National Conference on Economics of Competition Law organised by regulator CCI in the national capital, he said fair competition is a national responsibility and also emphasised the need for having a level-playing field in markets, especially for new entrants.

"There should be no monopolies... fair competition benefits markets and the economy... there should be freedom of trade," the minister of state for Corporate Affairs noted.

While underlining the importance of MSMEs (Micro, Small and Medium Enterprises), Malhotra said to ensure fair competition, real time market monitoring and analysing is necessary.

About Digital Competition Law, the minister said deliberations are going on and added that best practices in other countries should also be looked into.