Trade and Competition Policy : An Indian Perspective on the Concerns Pertaining to the Rising Implications on the Shrinkage of Policy Space

The negotiation of an Agreement on Trade and Competition Policy was on of the prime issues of the Singapore Ministerial Conference of the WTO. However, with lack of consensus, “Competition Policy” was scrapped-off the agenda of the WTO and the Doha Rounds in 2004. This was primarily because nations felt that any such inclusion would impede upon their respective nation’s policy space. India was once such nation who opined that the negotiation of such an Agreement under the auspices of the WTO would hamper the development goals of the country. In other words, India being a sovereign country must be free to decide its policies in the manner it desires. Against this backdrop, this paper delves to understand the veracity of the arguments posed by the Indian representatives; and whether an Agreement on Competition Policy within the WTO would in reality diminish the policy space or on the contrary be beneficial to the Indian economy and welfare