Competition drives innovation: CEA

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.

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.

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