In News:

The Competere Foundation, in collaboration with the Centre for Trade and Investment Law (CTIL), Indian Institute of Foreign Trade (IIFT), released the report "India's Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India's 2010–2023 Reform Progress."

What is India's Next Growth Frontier Report?

The report assesses India's structural economic reforms using the Market Distortions Performance Index (MDPI). It evaluates how policy reforms have reduced anti-competitive market distortions, strengthened competition, and improved India's global competitiveness.

The report aims to identify reforms that can further enhance productivity, attract investment, and support long-term economic growth.

Key Findings

India's performance improved significantly, with its MDPI ranking rising from 82nd in 2010 to 57th in 2023.

The assessment is based on three pillars:

• Protection of property rights
• Domestic competition
• International competition

Major reforms contributing to this improvement include the Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC), trade facilitation measures, and broader regulatory reforms.

The report recommends adopting an evidence-based, consumer welfare-oriented competition policy, particularly for digital markets and emerging sectors. It also advocates reviewing sector-specific investment restrictions and strengthening international cooperation to reduce regulatory barriers to trade.

Significance

The report provides an independent benchmark for evaluating India's structural reform trajectory and competitiveness. It highlights reforms that improve the ease of doing business, attract domestic and foreign investment, and enhance productivity. It also identifies priority areas for future policy reforms to strengthen competition and deepen global trade integration.

About the Market Distortions Performance Index (MDPI)

The Market Distortions Performance Index (MDPI) measures the extent to which policy and regulatory frameworks reduce anti-competitive market distortions and promote efficient markets. It evaluates countries across three dimensions:

• Property rights protection
• Domestic competition
• International competition