A PYMNTS Company

India: Finance minister concerned over cross-market watchdogs

By  |  December 1, 2014

The emergence of federal regulators that oversee multiple industries has raised concerns for India’s Finance Minister Arun Jaitley.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Jaitley expressed those concerns Monday, noting that such regulators raise the risk for interfering with each other’s jurisdictions. Reports say the official pointed specifically to authorities overseeing mergers and acquisitions as a high-risk area.

    According to Jaitley, while there is a need for regulators to be active and responsive in ensuring fair market play, the government must be cautious about multi-sectoral regulators that oversee mergers and acquisitions.

    To exemplify a potential conflict, Jaitley pointed to a hypothetical merger in the telecoms market – a situation that could raise conflict between the Competition Commission of India and the nation’s telco watchdog, both of which would have interest in the transaction.

    The remarks were made in his inaugural address at the International Competition Network merger workshop, which was organized by the CCI.

    Full content: Zee Biz

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.