PM calls for sound competition policy as BRICS nations face common challenges

Prime Minister Manmohan Singh emphasised on the need for a sound competition policy with an aim to meet the challenges of growth and poverty reduction faced by the BRICS nations. Singh inaugurated the '3rd BRICS International Competition Conference (ICC)' in New Delhi on Thursday. The PM stated that the anti-competitive behaviour deprived the markets of their ability to deliver efficient results. Singh also stressed on the need for building credible institutions for sustained and equitable growth. Singh also said that enforcement of competition law was another challenge faced by the emerging economies.