The differing views came into the open at a conference on economics of competition law where both of them addressed the gathering.
"I think regulatory institutions in India are still a work in progress. I do not think that we have attained the kind of maturity in our regulatory institutions that we need to and let's be honest about that," he said here.
Speaking after him, Sitharaman differed with his views saying institutions like Competition Commission of India (CCI) are striving to be dynamic.
"I wouldn't think it is a work in progress but it has to continue to be a dynamic institution rather than be fixated about from a point to a point today where are we... It has to be buoyant, it has to keep moving," she said.
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"I don't see a conflict of opinion between the two of us... We need a Competition Commission which is going to respond with more nuanced positions," the Minister said.
They also seemed to be on different pages with respect to learning from privatisation that led to oligarchy in Russia and China.
"For a long time we were enamoured with privatisation to make way for competition but I think certainly the experience of countries around the world, especially Russia, taught us that privatisation per se is not a solution to competition," Subramanian said.
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