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