Competition in business is boon for customers and monopoly a baneWhen there is competition among businesses for providing goods or service to customers then this proves to be a heaven for the end customers. The consumer not only gets various alternatives but also most competitive prices. On the contrary, monopoly by a business takes away all choices of consumers and even poor service and overpricing in long run.
As of now the telecom sector is somewhat witnessing the same. Within a span of 3 years Jio has outperformed and wiped out many old and new players from this sector. Examples are Aircel, Tata Docomo, etc. Even Vodafone is reeling under huge financial pressure and pending cases which is slowly killing it. Airtel or Bharti enterprises has also recently said that soon there will be only 2 players. Now what has been seen is that the consumers have benefited a lot from Jio but at the same time has given it such a huge edge over other competitors tht soon it may become monopolistic and then all the consumers will be left at its mercy. What seems really good will turn ugly if there is no competition.
On the other hand online groceries shopping is witnessing intense competition. Amazon Pantry, Flipkart, Big Basket, Grofers were already in scene and soon Jio Mart entered and toppled every other player. Still the competition is there and is going to intensify more with entry of Tata Super App for groceries. The benefit here will be only to consumers.
Now both these scenarios show a altogether different story one being of service sector and other being of products category but ultimately the consumer is the one who will at the benefit end as well as receiving end in case of competition and monopoly respectively.
Should there be any regulation for fair play or not as it will be more than evident that the bigger fish will eventually end up eating smaller fishes and then come after consumers.