India rises from 82nd to 57th in global rankings, in structural and pro-competitive reforms: Report by Competere Foundation
New Delhi: India has advanced 25 places in the global rankings, from 82nd to 57th, reflecting significant progress in structural and pro-competitive reforms between 2010 and 2023, according to the report India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress, released by the Competere Foundation. The report assesses India’s performance under its Market Distortions Performance Index, examining the country’s reform trajectory between 2010 and 2023, and attributes the improvement to sustained efforts in reducing market distortions and strengthening competitiveness.
The report was launched 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), Indian Institute of Foreign Trade (IIFT), New Delhi, in collaboration with the Competere Foundation for Trade and Competition Policy, at the India Habitat Centre, New Delhi. The discussion focused on India’s structural reform journey, policy measures to enhance competitiveness, and the next phase of reforms required to sustain growth in an evolving global trade environment.
The report evaluates market distortions across three broad pillars—property rights protection, domestic competition and international competition. It highlights reforms such as the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), improvements in the regulatory environment and the modernisation of trade facilitation systems. It also examines developments relating to competition, investment conditions, digital markets and external regulatory barriers affecting India’s competitiveness and participation in international trade.
The inaugural session commenced with welcome remarks by Professor and Head, Centre for Trade and Investment Law (CTIL), Dr James J. Nedumpara, who highlighted the importance of assessing India’s reform trajectory in the context of global competitiveness and international trade.
State Election Commissioner of the Union Territory of Ladakh and Former Secretary, Government of India, Shri Sudhanshu Pandey, delivered the keynote address. This was followed by a presentation on the report’s key findings by Chairman and President of the Competere Foundation for Trade and Competition Policy, Mr Shanker Singham.
The report also underlines the importance of maintaining an evidence-based and effects-oriented approach to competition policy, reviewing sector-specific investment restrictions in light of consumer welfare outcomes and strengthening cooperation with like-minded trading partners to address regulatory barriers in international markets.
A panel discussion brought together experts from the legal, industry, academic and policy communities to deliberate on India’s reform experience, competition policy, investment climate, market distortions and emerging challenges in international trade. The programme concluded with an interactive question-and-answer session.
The event brought together representatives from the legal, academic, industry and policy communities to discuss policy measures for strengthening India’s competitiveness, productivity and integration with the global economy.
(PIB)
