The Competition Commission of India (CCI) is a statutory body established under the Competition Act, 2002.It has been established by the Central Government with effect from 14th October 2003.Its primary objective is to promote and sustain fair competition in the market for the benefit of consumers and the overall economy of India.
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Role and Responsibilities: The CCI is responsible for enforcing competition laws, preventing anti-competitive practices, and promoting competition in various sectors of the Indian economy. It aims to ensure fair market competition, protect the interests of consumers, and maintain a level playing field for businesses.
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Structure and Composition: The Commission consists of a Chairperson and six Members appointed by the Central Government. The Chairperson is usually a former judge of the Supreme Court of India, and the Members have expertise in the fields of economics, law, and business.
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Functions: The CCI performs various functions to achieve its objectives. These include investigating cases of anti-competitive agreements, abuse of dominant market positions, and combinations (mergers and acquisitions) that may have an adverse impact on competition. It also reviews competition-related laws and regulations and provides recommendations to the government on policy matters.
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Powers: The Commission has powers to conduct inquiries, summon witnesses, call for information and documents, pass orders, and impose penalties on entities found guilty of anti-competitive practices. It has the authority to regulate mergers and acquisitions that may have an appreciable adverse effect on competition.
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Advocacy and Awareness: The CCI engages in advocacy efforts to raise awareness about competition laws and promote a competitive culture in India. It conducts workshops, seminars, and awareness campaigns to educate stakeholders, including businesses, government bodies, and consumers, about the benefits of competition and the consequences of anti-competitive practices.
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International Cooperation: The CCI collaborates with competition authorities from other countries to promote international cooperation and exchange of information. It actively participates in international forums and organizations working towards the development of competition policy and law.
The Competition Commission of India plays a crucial role in ensuring fair and competitive markets in India. It strives to create an environment that encourages innovation, efficiency, and consumer welfare while deterring anti-competitive behavior.