CCI Joins International Competition Network's Steering Group
- 30 Oct 2023
On 25th Oct, the Competition Commission of India (CCI) announced that it has achieved a significant milestone by becoming a member of the steering group of the International Competition Network (ICN), marking its inaugural membership in this esteemed body.
- The announcement came during the ICN Annual Conference 2023 held in Barcelona, Spain, after persistent efforts by the CCI.
Key Points
- A Global Network for Competition Agencies: The International Competition Network, comprised of 140 competition agencies from 130 countries, plays a pivotal role in shaping global competition policies and practices.
- It operates under the guidance of its apex body, the Steering Group, which is composed of 18 members.
- A First-Time Achievement for CCI: This achievement represents a significant first for the Competition Commission of India, as it secures its position within the ICN's steering group for a two-year membership term.
- The CCI's newfound role in the ICN's steering group is expected to bolster India's participation in global competition matters.
- Fostering Collaboration on Competition Concerns: The ICN serves as an invaluable platform for competition authorities worldwide, offering an informal yet highly specialized venue for fostering regular communication and addressing practical competition concerns.
- This collaboration is integral to the harmonization of competition policies on a global scale, benefiting both competition agencies and the broader public.
Competition Commission of India (CCI)
- CCI is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002.
- It was constituted in March 2009, following the repeal of the Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) based on the recommendations of the Raghavan committee.
Objective
- CCI aims to establish a robust competitive environment through proactive engagement with all stakeholders.
- These stakeholders include consumers, industry, government, and international jurisdictions.
- CCI strives to be a knowledge-intensive organization with a high competence level.
- The approach involves professionalism, transparency, resolve, and wisdom in enforcement.
The Competition Act, 2002
- The Competition Act was passed in 2002 and has been amended by the Competition (Amendment) Act, 2007, aligning with the philosophy of modern competition laws.
- The Act prohibits anti-competitive agreements and the abuse of a dominant position by enterprises.
- It also regulates combinations, including acquisitions, control acquisitions, and mergers, if they are likely to harm competition within India.
- To enforce this Act, the Competition Commission of India and the Competition Appellate Tribunal were established.
Composition of CCI
- The Commission consists of one Chairperson and six Members appointed by the Central Government.
- CCI operates as a quasi-judicial body that provides opinions to statutory authorities and handles other cases.
- The Chairperson and other Members are whole-time Members.
- Eligibility for members includes having a legal background or special knowledge in areas such as international trade, economics, law, finance, management, and more.
Functions and Roles of CCI
- CCI's functions include eliminating practices adversely affecting competition, promoting and sustaining competition, and protecting consumer interests.
- It gives opinions on competition issues referred by statutory authorities and undertakes competition advocacy, public awareness, and training.
- CCI aims to achieve these objectives through measures like ensuring consumer welfare, fostering fair and healthy competition, and implementing competition policies.
- It maintains effective relations with sectoral regulators to align sectoral regulatory laws with competition law.
- CCI carries out competition advocacy and spreads information on the benefits of competition.
- It is responsible for monitoring competition in India's domestic market, preventing the abuse of a dominant position, and regulating foreign companies entering India through mergers or acquisitions.
- Companies with assets and turnovers above a certain threshold fall under CCI's jurisdiction, ensuring compliance with competition laws.
