Topics Covered:
- Statutory, regulatory and various quasi-judicial bodies.
Competition Commission of India (CCI)
What to study?
For prelims: objectives, composition and functions of CCI.
For mains: issues associated with its functioning and the need for reforms.
Context: CCI imposes penalty on pharma companies, trade associations for violating the provisions of the Competition Act, 2002.
Competition Commission of India:
It is a statutory body of the Government of India, responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition.
Objectives of the Commission:
- To prevent practices having adverse effect on competition.
- To promote and sustain competition in markets.
- To protect the interests of consumers.
- To ensure freedom of trade.
Functions of the commission:
- 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.
- The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.
The Competition Act:
The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.
