Competition, Competitiveness and Economic Development

Although, economists emphasize on competition are essentially based on neo classical assumptions, never the less we should not confine our expectations to such limited aspects, It has now been realized that it play a significant role in socio-human capital formation, providing appropriate condition strengthening the competitiveness strength of domestic firms thereby facilitating their access to WTO. In this paper we shall discuss the needed policy changes for sustainable development and competitiveness of domestic firms.