Competition Commission of India

Competition Commission of India

Competition Commission of India is a body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India. It was established on 14 October, 2003.

Contents

The Competition Act, 2002

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.

Competition Commission of 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. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India. The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

Preamble to the Competition Act

An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto.

The objectives of Competition Law have been further highlighted in a recent judgment delivered by Hon'ble Supreme Court as:

"The main objective of competition law is to promote economic efficiency using competition as one of the means of assisting the creation of market responsive to consumer preferences. The advantages of perfect competition are three-fold: allocative efficiency, which ensures the effective allocation of resources, productive efficiency, which ensures that costs of production are kept at a minimum and dynamic efficiency, which promotes innovative practices." (Judgment in Civil Appeal No. 7999 of 2010 pronounced on 9th September, 2010)

To achieve its objectives, the Competition Commission of India endeavors to do the following:

  • Make the markets work for the benefit and welfare of consumers.
  • Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of economy.
  • Implement competition policies with an aim to effectuate the most efficient utilization of economic resources.
  • Develop and nurture effective relations and interactions with sectoral regulators to ensure smooth alignment of sectoral regulatory laws in tandem with the competition law.
  • Effectively carry out competition advocacy and spread the information on benefits of competition among all stakeholders to establish and nurture competition culture in Indian economy.

Composition

The Commission comprises of a Chairperson and six members.

External links


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Competition regulator — Competition law Basic concepts History of competition law Monopoly Coercive monopoly Natural monopoly …   Wikipedia

  • Competition law in the United Kingdom — United Kingdom competition law is affected by both British and European elements. The Competition Act 1998 and the Enterprise Act 2002 are the most important statutes for cases with a purely national dimension. However if the effect of a business …   Wikipedia

  • The Competition Act, 2002 — An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the… …   Wikipedia

  • India–Russia relations — India Russian relations refers to the bilateral relations between Republic of India and Russian Federation. During the Cold War, India and Soviet Union enjoyed strong strategic, military, economic and diplomatic relationship. After the collapse… …   Wikipedia

  • Commission v United Kingdom — Court European Court of Justice Citation(s) (2006) C 484/04, [2006] IRLR 888 Keywords Working Time Directive Commission v United Kingdom …   Wikipedia

  • India — /in dee euh/, n. 1. Hindi, Bharat. a republic in S Asia: a union comprising 25 states and 7 union territories; formerly a British colony; gained independence Aug. 15, 1947; became a republic within the Commonwealth of Nations Jan. 26, 1950.… …   Universalium

  • United Kingdom competition law — Competition law by country G 20 major economies Australia · Canada · China Japan · Russia · United Kingdom United States · European Union …   Wikipedia

  • Competition law — Antitrust redirects here. For the 2001 film, see Antitrust (film). For laws specific to the U.S., see United States antitrust law. Competition law Basic concepts …   Wikipedia

  • India Office Records — The India Office Records are a very large collection of documents relating to the administration of India from 1600, the date of the establishment of the East India Company, to 1947, the date of Indian and Pakistani independence from British… …   Wikipedia

  • India — भारत गणराज्य Bhārat Gaṇarājya Republic of India República de la India …   Wikipedia Español

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”