Title : COMPETITION COMMISSION OF INDIA

Date : Dec 21, 2021

Description :

GS II

 

Topic à Statutory & Non-Statutory Bodies

 

• India's Competition Commission:

 

• It is a statutory entity of the Indian government charged with executing the Competition Act, 2002 throughout the country and preventing anti-competitive acts.

 

• The Commission's goals are as follows:

 

• To avoid practises that have a negative impact on competition.
• To encourage and maintain market competition.
• To safeguard the interests of customers.
• To ensure that trade is unrestricted.

 

• The commission's responsibilities are as follows:

 

• It is the Commission's responsibility to eradicate anticompetitive activities, promote and sustain competition, safeguard consumers' interests, and ensure free trade in India's marketplaces.
• The Commission is also mandated to provide an opinion on competition concerns in response to a referral from a statutory entity formed under any law, as well as to engage in competition advocacy, raise public awareness, and provide competition training.

 

• The Act on Competition:

 

• The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, prohibits anti-competitive agreements, enterprise abuse of dominant position, and regulates combinations (acquisition, acquiring control, and M&A) that have or are likely to have a significant adverse effect on competition in India.

 

• Source à The Hindu à 18/12/21 à Page Number 1

Tags : The Competition Act, 2002, anti-competitive agreements