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As it seeks to become more nimble as well as strengthen its prowess to clamp down on unfair business ways, the Competition Commission of India (CCI) plans to further streamline processes and also have its regional presence.
The CCI, which has the mandate to check anti-competitive practices and also encourage fair business ways across sectors, has been making various efforts to bolster its functioning as a regulator.
Responding to a query on key learnings for the regulator amid the coronavirus pandemic and plans in the new year, its Chairperson Ashok Kumar Gupta said that regulators need to be nimble and dynamic in responding to the challenges arising out of such unforeseen events.
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After e-commerce and pharma, CCI zeroes in on private equity for market study
It is estimated that about $40 billion of PE money would get deployed in India this year"Going forward, in 2021, you may expect CCI 2.0 where processes and procedure will be reviewed and streamlined. Also, paperless filings and virtual meetings will become a new norm. CCI will also have its regional presence...," he told PTI in a recent e-mail interview.
Recently, the watchdog streamlined its combination regulations by doing away with certain disclosure requirements relating to non-compete agreements. This was part of efforts to contribute to improving the ease of doing business in the country.
In 2020, the CCI received around 85 combination filings and 74 of them were approved, including three with remedies.
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