- The Competition Commission of India (CCI) is seeking suggestions to undertake a market study on artificial intelligence (AI) and its influence on competition.
About the Competition Commission of India (CCI)
- The Vajpayee administration formed the CCI as a statutory organisation under the 2002 Competition Act.
- It seeks to encourage and preserve competition, defend consumer interests, and secure free commerce.
- The commission serves as a quasi-judicial entity, advising statutory agencies and deciding matters.
- Evolution of CCI:
- Established in response to the need to encourage competition and private enterprise, particularly following India’s economic liberalisation in 1991.
- The Monopolies and Restrictive Trade Practices Act of 1969 (MRTP Act) was replaced in accordance with the Raghavan Committee’s recommendations.
Key Features of the Competition Act:
- The Competition Act was passed in 2002 and has since been updated to reflect contemporary competition regulations.
- Anticompetitive agreements, misuse of dominant positions, and combinations that harm competition are all prohibited.
- Created the Competition Commission of India and the Competition Appellate Tribunal.
- In 2017, the National Company Law Appellate Tribunal (NCLAT) superseded the Competition Appellate Tribunal (COMPAT).
Composition of CCI:
- CCI consists of a Chairperson and 6 members selected by the Central Government.
- Members must have extensive experience in a variety of fields, including law, economics, finance, and management, or be prepared to serve as a High Court judge.
Key Functions of CCI:
- Regulating Mergers and Acquisitions:
- Ensure that mergers and acquisitions do not reduce market competition.
- Eliminating monopolistic behaviours and encouraging fair competition.
- Investigating Anti-Competitive Practices:
- Investigations of cartels, collusion, and exploitation of dominating market positions.
- Taking action against organisations that engage in anti-competitive behaviour.
- Market Studies and Research:
- Conducting research to evaluate market dynamics and competitive levels.
- Identifying trends and concerns that influence competition in diverse industries.
- Handling Complaints:
- Responding to individual or corporate complaints against anti-competitive behaviour.
- Beginning investigations based on credible allegations received.
- Adjudication and Penalty Imposition:
- Adjudicating instances involving competition law breaches.
- Penalties are imposed on entities deemed to be in violation of competition regulations.
Source: https://www.cci.gov.in/