FM calls for balance between regulations and pro-growth mindset

Union Finance Minister Nirmala Sitharaman has said that a right balance is needed between market regulation and freedom, especially as India increasingly relies on domestic growth levers amid rising geopolitical and environmental challenges. While addressing the 16th Annual Day of the Competition Commission of India (CCI) in New Delhi on Tuesday, the Finance Minister noted that in recent years, the world has witnessed a series of wide-ranging disruptions, making the need for strong, responsive, and forward-looking institutions. She emphasised that India’s ongoing structural reforms, such as asset monetisation, disinvestment, and digital public infrastructure, are all geared towards unlocking market potential and deepening competition.
Highlighting the role of the CCI, the Minister said the Commission has played a key role in keeping competition alive in the market and ensuring a dynamic Indian economy. She added that CCI’s ability to strike a balance between regulatory vigilance and a pro-growth mindset will be crucial in building a resilient, equitable, and innovation-driven economic framework as India aspires to become a Viksit Bharat by 2047. 

The enactment of the Competition Act in 2002 was a landmark reform in India’s journey from a centrally planned regime to a market-driven economy, and the Commission has emerged as a key institution in safeguarding the spirit of liberalisation while checking its excesses.

- Smt… pic.twitter.com/MXHhNc4C5e

— Nirmala Sitharaman Office (@nsitharamanoffc) May 20, 2025

CCI Chairperson Ravneet Kaur said that after 16 years of ensuring a free and fair market, the Commission’s focus now is on keeping pace with the latest developments and continuing to adapt and evolve with time.Kaur highlighted that the CCI has adopted a forward-looking regulatory approach, characterized by a judicious blend of enforcement, advocacy, and institutional capacity building. Its jurisprudence has provided critical guidance on key aspects of competition law — ranging from cartels and abuse of dominance to merger control — thereby fostering compliance and instilling confidence among stakeholders. These efforts have collectively laid the foundation for an ecosystem where fair competition is seen not merely as a legal obligation but as a strategic imperative for growth and innovation, the CCI Chairperson said.