Context: The Competere Foundation, in collaboration with the Centre for Trade and Investment Law (CTIL), IIFT, released the report India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress.
About India’s Next Growth Frontier Report:
What It Is?
- India’s Next Growth Frontier is a report published by the Competere Foundation that assesses India’s reform performance through the Market Distortions Performance Index (MDPI).
- It evaluates how structural reforms have reduced market distortions and improved India’s competitiveness in the global economy.
Aim: To assess India’s progress in reducing anti-competitive market distortions and recommend reforms that strengthen productivity, investment, and global competitiveness.
Key Findings:
- Improved Global Ranking: India rose from 82nd to 57th in the Market Distortions Performance Index between 2010 and 2023.
- Three-Pillar Assessment: The index evaluates property rights protection, domestic competition, and international competition.
- Major Reform Drivers: Reforms such as GST, Insolvency and Bankruptcy Code (IBC), trade facilitation, and regulatory improvements significantly enhanced competitiveness.
- Need for Competition Reforms: Calls for an evidence-based, consumer welfare-oriented competition policy, especially for digital markets and emerging sectors.
- Global Trade Integration: Recommends reviewing sector-specific investment restrictions and strengthening cooperation with like-minded countries to address international regulatory barriers.
Significance
- Measures Reform Outcomes: Provides an independent benchmark to evaluate India’s structural reform progress and competitiveness.
- Supports Investment Climate: Highlights reforms that improve ease of doing business, attract investment, and enhance productivity.
- Guides Future Policy: Identifies priority areas for strengthening competition, trade integration, and long-term economic growth.
Relevance in UPSC Exam Syllabus:
- GS Paper III – Indian Economy
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- Structural reforms, competition policy, ease of doing business, investment climate, trade competitiveness, and economic growth.
- GS Paper II – Governance
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- Regulatory reforms, institutional framework for competition, and policy measures to improve economic governance.
