COMPETITION COMMISSION
- November 10, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Subject : National Organisations
Context : Google will be probed by India’s Competition Commission for allegedly ‘abusing dominance’ to push its payments app.
Concept :
Competition Commission of India
- Competition Commission of India is a statutory body responsible for enforcing the objectives of the Competition Act, 2002.
- CCI has been established by the Central Government with effect from 14th October 2003.
- Composition: A Chairperson and 6 Members appointed by the Central Government.
- Duty of the Commission:
To eliminate practices having adverse effects on competition.
Promote and sustain competition.
Protect the interests of consumers.
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, follows the philosophy of modern competition laws.
- The Act 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.