Finance Minister calls for a proactive competition watchdog

Our Bureau New Delhi | Updated on August 23, 2019

Finance Minister Nirmala Sitharaman   -  PTI

The Competition Commission of India (CCI) should ensure healthy competition by staying pro-actively alert and taking suo motu action on developments in the domestic and international markets, according to Finance Minister Nirmala Sitharaman.

“I would think CCI 2.0 should look at what is developing globally and what is already having an impact on us,” said Sitharaman. She also said that the CCI should ensure Indian enterprises are safeguarded from abuse by entities operating from other jurisdictions.

Sitharaman also said that the CCI must observe market developments around the world as borders no longer determine competition in a country.

She said that competition policy is a big challenge at the international level. Large corporate companies have jurisdiction in one country and ground operations elsewhere and this poses huge challenges for regulators.

“You also have a situation where ‘competition sans frontiers’ is happening. Competition without frontiers is what is now capturing the globe,” she added.

Published on August 23, 2019

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