What is CCI (Competition Commission of India)?
Under the backing of the Government of India, the Competition Commission of India (CCI) is a statutory entity tasked with enforcing the provisions of the Competition Act of 2002. Its basic mandates include facilitating and maintaining a competitive market, protecting consumer interests. and upholding the principles of free trade within the Indian economic landscape. Consisting of a Chairman and six members, all appointed by the Central Government, the CCI has the authority to investigate and impose penalties against entities engaged in anti-competitive agreements or abuse of dominant market positions. Additionally, it plays a regulatory role in overseeing mergers and acquisitions, intervening when such transactions create potential harm to healthy market competition.
Objectives of the Competition Commission of India
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Restrain practices with adverse effects on competition
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Promote and sustain competition in markets
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Protect consumer interests
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Ensure freedom of trade
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Create awareness and advocate for fair competition practices
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Cooperate with other regulatory authorities in the economy
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Investigate and take action against anti-competitive practices
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Impose penalties and issue orders to ensure a level playing field in the Indian market
Functions of the Competition Commission of India
The main functions of the Competition Commission of India:
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To expel practices that have an adverse effect on competition in the Indian market, such as cartels, abuse of dominance, anti-competitive agreements, or mergers and acquisitions that could create monopolies or reduce competition.
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To promote and sustain competition in various sectors of the economy, such as telecom, banking, e-commerce, aviation, etc., by conducting market studies, issuing guidelines, and taking suo moto actions.
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To defend the interests of consumers and ensure their welfare by preventing unfair trade practices, predatory pricing, quality degradation, or deceptive advertising.
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To ensure freedom of trade and create a level playing field for all participants in the market by preventing barriers to entry, discrimination, or coercion.
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To undertake competition advocacy and create awareness among the public, policymakers, and stakeholders about the benefits of competition and the role of the CCI.
The CCI also has the authority to cooperate and coordinate with other regulators, agencies, or international organizations on competition law and policy matters