New Delhi: Seeking to ensure a level-playing field in economic activities across sectors, anti-trust regulator CCI plans to carry out "competition assessment" of all upcoming economic legislations, both at the Centre and state levels.
Stepping up its vigil, the Competition Commission of India (CCI) in recent times has dealt with instances of unfair business ways in various sectors, including real estate and pharma.
CCI Member M S Sahoo said the Commission occasionally examines the Bills coming up before legislatures from a competition perspective and offers its opinion. It also gives its view to the government and other regulators on matters of competition.
The Commission "intends to undertake competition assessment of all economic legislations before the Union and state legislatures proactively and provide its views," Sahoo told PTI in an interview here.
Apart from cracking down on anti-competitive practices, the relatively new regulator has been intensifying its efforts to create more awareness about competition law and its overall benefits for the economy.
The Commission has received about 300 applications for approval of combinations. Of this, about 20 are in the process and the rest have been disposed of, the average time for disposal being 20 days.
"It has received about 600 references of anti-competitive conduct, of which about 80 per cent have been disposed of. The balance 20 per cent are in the pipeline either pending investigation or after investigation," said Sahoo, who has previously also served as a Whole-Time Member of capital market regulator Sebi.
Sahoo said CCI has powers to act against foreign entities if their activities adversely impact competition here.
"The Competition Act makes it abundantly clear that the Commission has all the powers to deal with a firm or an act of a firm if it adversely affects the competition in relevant markets in India. For example, if two overseas companies, which have no establishment in India but whose products are sold in India, wish to merge, they have to address competition concerns in the market for their products in India. To facilitate this further, the Commission has entered into cooperation agreements with competition authorities in important jurisdictions," Sahoo said.
The Commission has four statutory responsibilities -- eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade.
Among the activities that violate competition norms are cartelisation, price fixation, control of supply, bid-rigging and abuse of dominance.
