The Competition Commission of India (CCI) is a statutory body established under the Competition Act, 2002. It is responsible for enforcing competition laws in India and ensuring fair competition in the market to protect consumer interests and promote economic efficiency.
Establishment
The Competition Commission of India was established on 14th October 2003, under the provisions of the Competition Act, 2002. The Act was enacted to prevent anti-competitive practices and promote competition in the Indian market.
Objectives
The primary objectives of the Competition Commission of India include:
Preventing Anti-Competitive Practices: CCI aims to prevent practices that have an adverse effect on competition, such as cartels, abuse of dominance, and anti-competitive agreements.
Promoting Competition: It promotes and sustains competition in the market for the benefit of consumers by ensuring a level playing field for all participants.
Regulating Mergers and Acquisitions: CCI regulates mergers and acquisitions to ensure they do not result in adverse effects on competition in the market.
Consumer Protection: It safeguards consumer interests by preventing unfair trade practices and promoting consumer choice and welfare.
Market Advocacy: CCI engages in market advocacy activities to raise awareness about the benefits of competition and its role in fostering economic growth and innovation.
Functions
The key functions of the Competition Commission of India include:
Investigation and Enforcement: CCI investigates complaints regarding anti-competitive practices and takes enforcement actions against entities found to be violating competition laws.
Mergers and Acquisitions Review: It reviews mergers, acquisitions, and combinations to assess their potential impact on competition and may approve them subject to certain conditions.
Competition Advocacy: CCI conducts advocacy programs to promote competition awareness among stakeholders and encourages compliance with competition laws.
Market Studies: It conducts studies and research on various sectors to identify competition issues and recommend policy measures to enhance competition.
Structure
The Competition Commission of India consists of a Chairperson and not less than two and not more than six members appointed by the Central Government. It also has a Secretary who assists in the administration and management of its affairs.
Jurisdiction
CCI has jurisdiction over the whole of India and can inquire into anti-competitive practices and mergers and acquisitions that have an impact on competition in the Indian market.
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