New Delhi, Jul 30 (UNI) India climbed 25 places in the global rankings for reducing anti-competitive market distortions between 2010 and 2023, reflecting the impact of a series of structural and pro-competition reforms undertaken over the past decade, according to a new report released by the Competere Foundation.
The report, titled India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress, ranks India 57th on the Market Distortions Performance Index, up from 82nd in 2010.
The improvement is attributed to reforms aimed at strengthening competition, improving the business environment and making markets more efficient.
The findings were unveiled during a discussion on “India’s Reform Trajectory, Market Distortions and the Next Frontier for Growth and Competitiveness”, organised by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade (IIFT), in collaboration with the Competere Foundation here.
According to the report, India’s progress has been driven by major policy initiatives such as the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), regulatory reforms and improvements in trade facilitation systems. These measures, it said, have helped reduce barriers to competition and improved the country’s overall business ecosystem.
The assessment evaluates India’s performance across three key pillars—protection of property rights, domestic competition and international competition. It also reviews developments in investment conditions, digital markets and external regulatory barriers that influence India’s participation in global trade.
While acknowledging the gains made over the past decade, the report notes that further reforms will be necessary to sustain India’s competitiveness. It recommends an evidence-based approach to competition policy, a review of sector-specific investment restrictions with greater emphasis on consumer welfare, and stronger collaboration with like-minded trading partners to address regulatory barriers in international markets.
The event opened with remarks by Dr. James J. Nedumpara, Professor and Head of CTIL, who highlighted the importance of evaluating India’s reform trajectory in the context of global trade and competitiveness.
Former union Government Secretary and current State Election Commissioner of the union Territory of Ladakh, Sudhanshu Pandey, delivered the keynote address, while Shanker Singham, Chairman and President of the Competere Foundation for Trade and Competition Policy, presented the report’s key findings.
The discussion also featured a panel of experts from the legal, academic, industry and policy communities, who examined India’s reform experience, competition framework, investment climate and the challenges that lie ahead in an evolving global trade landscape. The session concluded with an interactive discussion on measures needed to strengthen India’s productivity, competitiveness and integration with the global economy. UNI VK SAS
