The Strife of Virtual Reality – Competition and New Age Markets

This article will provide a detailed understanding of the current scenario of the changing trends of competition in the Indian economy. The authors launch into the article by giving a brief introduction to the role of digitalization and updated technology and their effect on the competition in various markets. Competition is a dynamic concept and is subject to different interpretations. There is an emphasis placed on the Competition Laws of India and the OECD (Organisation for Economic Co-operation and Development) principles to provide for a better understanding of the reader. This article further dwells into the challenges that are faced in promoting healthy competition in a digital economy. This is followed by a brief on the method of regulating competition in market structures and other policy measures in casting a positive effect on competition in the digital economy. The authors have then outlined the challenges faced by developing countries and probable responses and remedies. Finally, the authors conclude by stating how the promotion of competition in developing countries such as Germany and the European Commission are already leading the way to it and the effectiveness of their administration.