What is meant by Competition Commission of India?

What is meant by Competition Commission of India?

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. Eliminate practices having adverse effect on competition. Promote and sustain competition. Protect the interests of consumers.

What is the role of the Competition Commission in the market?

The Competition Commission is empowered by the Competition Act to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy.

Where is the Competition Commission of India?

New Delhi
Our Location. New Delhi: 110023, India.

What is the role of Competition Commission of Pakistan?

The Competition Commission of Pakistan (CCP) is an independent quasi-regulatory, quasi-judicial body that helps ensure healthy competition between companies for the benefit of the economy.

What are the functions of Competition Commission of India?

Functions of CCI Undertake competition advocacy, create public awareness and impart training on competition issues. Ensure smooth alignment of sectoral regulatory laws and competition laws. Ensures that foreign companies abide by the country’s competition laws.

What are the powers and functions of competition Commission?

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.

What is the role of competition law?

Competition law – an introduction The law aims to promote healthy competition. It bans anti- competitive agreements between firms such as agreements to fix prices or to carve up markets, and it makes it illegal for businesses to abuse a dominant market position.

Who is the Chairman of Competition Commission?

Ashok Kumar Gupta
The Commission. Ashok Kumar Gupta is a 1981 Batch IAS officer of the Tamil Nadu cadre. He has had an illustrious career of 40 years in public service spanning across sectors from industry, finance, health to defence production.

What is the role of competition?

Competition stimulates firms to lower their own costs and run their businesses as efficiently as possible. But when competition is restricted – such as by one company acquiring most competitors or reaching agreements on prices with other competitors – prices are likely to increase and quality is likely to also suffer.

How the Competition Commission of India is constituted?

How was the Competition Commission of India formed? The CCI was established by the Vajpayee government, under the provisions of the Competition Act 2002. The Competition (Amendment) Act, 2007 was enacted to amend the Competition Act, 2002. This led to the establishment of the CCI and the Competition Appellate Tribunal.

What are the powers of Competition Commission of India?

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.

What is competition authority meaning?

A Competition Authority is the name given to a competition regulator in certain countries. It is a government agency, typically a statutory authority, sometimes called an economic regulator, which regulates and enforces competition laws, and may sometimes also enforce consumer protection laws.

What does competition mean in law?

Competition law is the body of legislation intended to prevent market distortion caused by anti-competitive practices on the part of businesses. In the United States, Canada and the European Union, competition law is also known as Antitrust law.