Polity– Statutory bodies
The Competition Commission of India (‘Commission’) has found Madhya Pradesh Chemists and Druggist Association (‘MPCDA’), Indore Chemists Association (‘ICA’), Himalaya Drug Company (‘HDC’) and Intas Pharmaceuticals Limited (‘IPL’) along with some of their office bearers/officials to be in contravention of the provisions of the Competition Act, 2002 (‘Act’). The Commission imposed a monetary penalty on the associations.
About the Competition Commission of India
- Competition Commission of India is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India.
- It was established on 14 October 2003. It became fully functional in May 2009 with Dhanendra Kumar as its first Chairman.
- 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.
- The objectives of the Act are sought to be achieved through the Competition Commission of India, which has been established by the Central Government with effect from 14th October 2003.
- Vision: To promote and sustain an enabling competition culture through engagement and enforcement that would inspire businesses to be fair, competitive and innovative; enhance consumer welfare; and support economic growth.
- Mission: Competition Commission of India aims to establish a robust competitive environment through:
- Proactive engagement with all stakeholders, including consumers, industry, government and international jurisdictions.
- Being a knowledge intensive organization with high competence level.
- Professionalism, transparency, resolve and wisdom in enforcement.
CCI consists of a Chairperson and 6 Members appointed by the Central Government.It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.The Commission is also required to give opinions 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.