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Daily-current-affairs / 12 Aug 2021

Competition Commission of India (CCI) : Daily Current Affairs

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Competition Commission of India (CCI)

CONTEXT:

Refusing to intervene into the Karnataka High Court's order in the Amazon-Flipkart case, the SC indirectly allowed the CCI to go ahead with the probe against both the companies, allegedly entering into anti-competitive agreements in violation of the Competition Act of 2002. The issue brings light on anti-competitive agreement and a hostile effect on fair competition due to unfair practices by the e-commerce companies.

  • The Competition Commission of India (CCI) was established in March 2009 by Government of India under the Competition Act, 2002 for the administration, implementation, and enforcement of the Act.
  • Objectives include:
  • Eliminate practices having adverse effect on competition
  • Promote and sustain competition
  • Protect the interests of consumers
  • Ensure freedom of trade in the markets of India
  • Establish a robust competitive environment.
  • CCI consists of a Chairperson and 6 Members appointed by the Central Government
  • Its functions include
  • Ensuring that the benefit and welfare of the customers are maintained in the Indian Market.
  • An accelerated and inclusive economic growth through ensuring fair and healthy competition.
  • Ensuring the efficient utilization of the nation’s resources.
  • The Commission also undertakes competition advocacy.
  • It is also the antitrust ombudsman for small organizations.
  • The CCI will also scrutinize any foreign company that enters the Indian market that it abides by India’s competition laws – the Competition Act, 2002.
  • CCI also ensures interaction and cooperation with the other regulating authorities in the economy.
  • It also acts as a business facilitator.

Sources

  • The Hindu
  • Ministry of Corporate Affairs website