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Market regulators do not want to be the speed bumps in the way of automobile industry, but would have to be proactive to flag competition concerns and this simply cannot be ignored, Ashok Kumar Gupta, Chairman, Competition Commission of India (CCI) has said.
Addressing a virtual workshop of BRICS Competition Agencies on “Competition Issues in Automobile Sector”, Gupta said that a plausible common solution may emerge due to the presence of most of the global automobile players in BRICS jurisdiction, thereby focusing on common approaches and standardisation. He highlighted the imperative need to discuss and reflect on the emerging issues, including relating to big data, in this sector.
The CCI is the project co-lead of the Automotive Working Group (AWG) along with Competition Commission, South Africa. The present workshop was held amongst the AWG.
Earlier, BRICS Competition Agencies had signed a Memorandum of Understanding (MoU) on co-operation in the field of competition law and policy in May 2016 (In 2020, it has been extended for an open-end period). In accordance with this MoU, four Working Groups had been constituted on important industries/sectors namely, Pharmaceuticals, Food, Automotive and Digital Markets. These Working Groups have collaborated with each other to adopt best practices.
In his opening remarks at the virtual workshop, Gupta stressed upon the importance and growth of the automobile sector in developing countries, especially the BRICS nations. He mentioned that the presence of numerous Original Equipment Manufacturers (OEMs) within BRICS, due to existing congenial factors for production and assembly plants, makes such market a favourite destination for leading OEMs to tap enormous potential.
Representatives of BRICS Competition Agencies made presentations highlighting the key developments in the automotive sector in their respective jurisdictions, an official release said. Challenges, arising out of new age digital economy, were also deliberated. During the workshop, common issues which all BRICS nations are facing, emerged and the way forward to tackle such issues including the importance of advocacy was also debated, release added.
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