I am greatly honoured to have been invited to speak as a member of the panel on 'Convergence in the Competition Law of the Commonwealth?' and to share the dais with Sir Christopher and other eminent competition experts from Commonwealth countries.

Competition law is an integral part of the regulatory framework in a market economy. Competition increases economic efficiency, and enhances consumer welfare. Some recent economic studies have demonstrated in very specific ways the benefits reaped by several economies from a pro-competition policy. My own country, India, has embraced economic reforms since 1991 and the benefits are visible unambiguously in those sectors which have been thrown open to competition.