Who Benefits from Picking Digital Winners?
Indonesia’s handling of the potential Grab–GoTo merger highlights growing tensions between industrial policy ambitions and competition law in the digital economy. While the competition authority has voiced concern over possible anticompetitive effects, the sovereign fund Danantara’s reported plan to acquire a minority stake in the merged entity reflects the government’s strategic interest in retaining local influence and profits. The case underscores a broader global debate on whether competition policy should prioritize consumer welfare or national strategic objectives, especially amid the rise of powerful digital platforms. As countries seek to build “digital champions,” Indonesia’s experience illustrates the complex trade-offs between fostering innovation, maintaining fair competition, and advancing industrial policy goals—an issue increasingly relevant across Asia and beyond.