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Competition Commission Of India
An important body of the Central Government of India, Competition Commission of India (CCI) functions to maintain thorough transparency in the recruitments and in competitions organized to enforce Competition Act, 2002. Purpose of establishing this Commission was mainly to implement the rule of law throughout the country and to stop all types of those activities that might cause antagonistic effect on the competitions organized in the whole country.
The process of establishing CCI had begun after thorough consultation by the Central Government which finally established it on October 14, 2003 for the best possible implementation on both central and state levels.
Bringing reasonable change in the modern competition laws was the key purpose of the Competition Act, 2002 under which CCI was established as a body. This Act was Amended recently in 2007 for smooth functioning of various competitions which are organized throughout the country. Important objectives of this Commission are as follows:-
- Total prohibition of all sorts of anti-competitive agreements
- Timely control over all kinds of abuses of dominant position by enterprises
- CCI would regulate various combinations including acquisition and acquiring of control or merger and or any other types of acquisitions done
- Stopping all adverse effects on competitions held in the country
Roles, Body & Objectives
CCI has taken various initiatives as part of its major and minor roles ever since it was established and brought into practice. This Commission is governed under the direction of the Central Government with the state governments assisting its core team in the respective areas of functioning.
The Central Government of India has established CCI with the appointment of its core team that consists of a Chairperson and the six core members. This team works with additional team members to act on various platforms. The Commission has been assigned the duty to initiate effective and concrete steps to ensure that all types of malpractices are eliminated in the competition procedures in the country.
The main purpose is to suppress all those practices that might cause any sort of adverse effects on the competition procedures. Other important roles which CCI looks at carefully are to promote and sustain competition and keeps its spirits high through maintaining proper transparency.
Protecting the consumer interests and ensuring thoroughly free and fearless trade in various markets in the country are the key objectives of this Commission. Some more important roles of CCI is to offer unbiased and fruitful opinion on the issues related to various competitions. Such guidelines are brought into practice under the guidance of the authorities concerned. A statutory authority monitors the roles of this Commission under the law. Undertaking the competition advocacy and creating awareness amongst the public for effective training and competition activities are some important roles which CCI play in the country.
With the objective to maintain thorough transparency, CCI takes the steps and suggest for better means that can prove helpful to promote the economic efficiency of the country. The purpose is to use competition as an effective means for which this Commission supervises and assist the Central Government for best functioning of trade and other related operations. Making it effective for the market to play responsive role and to give consumers key preferences are crucial objectives for which this Commission works to ensure sustainable growth.
CCI advises for the effective measures which are threefold in nature:-
- Inculcate efficiency to assure best allocation of resources
- Productive efficiency to maintain and control production costs
- Dynamic efficiency through involving innovative practices
Development of country through enriching economic policies is one of the important aspects for which CCI acts through providing best solutions possible. Establishment of this Commission has prevented various types of malpractices that could cause bad impact on the competitions held on different levels. It has also guided the country’s governance system through promoting different means and options for a sustainable competition spirit in the markets.
Protecting consumer interests and assuring total freedom in trade related activities by active involvement of the participants concerned as well as numerous other factors like issues connected are crucial aspects in which CCI has played pivotal role since its establishment.
Effective Measures Taken Ever
CCI has taken several effective measures to ensure the objectives are fulfilled. This Commission has endeavored on multiple grounds to achieve the following important goals for smooth functioning of the system:-
- Guide, suggest and explore the means to turn markets work for maximum profits besides keeping in view the welfare aspects under consideration
- Create platform to ensure fair, fearless healthy competition spirit
- Taking the steps that ascertain fast economic growth with involvement in the activities in ceaseless growth of the country
- Suggesting measures that prove helpful for overall economic development
- Make sure that efficient economic policies are implemented as and when required through genuine utilization of resources for economic uplift
- Guide for the development and implementation of effective relations through inculcating interaction trends in multiple sectors by regulation application
- Ensuring all the competition laws are genuinely implemented
CCI is served by the strong team of current Chairman, Ashok Chawla and the core members to nourish the system. It is meant for unique and error free competition culture in all sections of the country.