Competition Commission of India (CCI) : Daily Current Affairs

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