2.5.4. Competition Commission of India

Competition Commission of India is a body of the Government of India responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India. 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 Merger and acquisition), which causes or are likely to cause an appreciable adverse effect on competition within India.

It is the duty of the Commission to:

♤ eliminate practices having adverse effect 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.