This paper throws light on the debate going on around the world over the application of competition law rules to hi-tech markets in today’s new digital/information economy. In the absence of a specific regulator, presently, CCI (Competition Commission of India) will have to be what FTC (Federal Trade Commission) has become – the “de facto regulator of Internet commerce”. The author argues that it is important for the government to help assure that the industry will be shaped, during its current malleable phase, along competitive lines. Undoubtedly, vibrant competition is a pre-requisite for enduring economic success. It would be ironical if competition authorities inhibit innovation while pursuing their objectives of accelerating growth and competition.