Competition Commission of India
Structure:
- The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws.
- The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.
- The objectives of the Act are sought to be achieved through the Competition Commission of India(CCI), which has been established by the Central Government with effect from 14th October 2003.
- CCI consists of a Chairperson and 6 Members appointed by the Central Government.
Function:
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- CCI’s mandate is to eliminate anti-competitive practices, promote competition, protect consumers, and ensure freedom of trade.
- CCI’s approach:
- Enforcement (punitive and remedial actions) and
- Advocacy (educating stakeholders, providing policy recommendations).
- Focus areas of CCI:
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- Addressing anti-competitive agreements: Cartels, price-fixing, bid-rigging, vertical restraints, abuse of dominant positions.
- Merger reviews: Preventing creation of market dominance through mergers and acquisitions.
- Digital economy: Ensuring competition and innovation are not stifled by tech giants.
- New-age challenges: Regulatory adaptation, advocacy, international cooperation.
- Consumer protection: Ensuring choice, fair prices, and quality products.
- Holistic regulatory environment: Collaboration with other bodies and governments.
- Future plans: Building resilience, agility, and expertise in new markets.
As India enters the Amrit Kaal, CCI reaffirms its commitment to steering India’s economic journey towards a future that is competitive, inclusive, and resilient.
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