'Competition policy must for consumer welfare'

The country needs to adopt a national competition policy which will maximise consumer welfare, promote productive efficiency, and lead to incentives in innovation.

Competition law is an essential part of a free market economy and has been adopted in 106 countries including China, Vinod Dhall, acting chairman, Competition Commission of India, said in Kolkata at an interactive session organised by Merchants Chamber of Commerce on Competition Law and Policy today.