10th Edition of National Conference on Economics of Competition Law

Context

• On 16th March, the Competition Commission of India (CCI) organized  the 10th National Conference on the Economics of Competition Law in New Delhi.
• The CCI has been organizing the annual Conference since 2016, bringing together scholars, practitioners, and experts in the field of the economics of competition law.

More on News

• The Conference, in addition to the Inaugural Session, featured two technical sessions on ‘Digital Dynamics: Markets, Competition & Innovation’; and ‘Exploring Mergers: Structure, Competition and Synergy’ where researchers presented papers on economics of competition law.
• The minister of State in the Ministry of Corporate Affairs, emphasized the crucial role of the MSME sector, which contributes 80% of manufacturing output, 45% of exports, and 30% of India’s GDP.
• Smt. Ravneet Kaur, Chairperson, CCI, in her Special Address, stated that the Competition Amendment Act, 2023, has significantly reshaped the regulatory landscape to tackle emerging challenges and balance enforcement with market-friendly solutions.

About CCI

• It  operates  under the Ministry of Corporate Affairs, was established to enforce competition law as outlined in the Competition Act, 2002 and effectfrom 14th October 2003. 
• Following the Raghavan committee’s recommendations, the Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) was repealed and replaced by the Competition Act, 2002.
• Establishment: CCI is a statutory and quasi-judicial body established by the Government of India.
• Headquarters: New Delhi
• Vision: To eliminate practices that harm competition, promote and maintain competition, protect consumer interests, and ensure the freedom of trade for other participants in Indian markets.
• Members: The Commission consists of a chairperson and not more than 6 Members appointed by the Central Government.
• Tribunal: As per the provisions of the Amendment Act, the Competition Commission of India and the Competition Appellate Tribunal have been established.
  • Later, the government of India replaced Competition Appellate Tribunal (COMPAT) with the National Company Law Appellate Tribunal (NCLAT) in 2017.
• Role of CCI
  • To Prevent practices having adverse effect on competition.
  • To Promote and sustain competition in markets.
  • To Protect the interests of consumers and, to ensure freedom of trade carried on by other participants in markets, in India.