Overview
- Established: October 14, 2003.
- Operational Date: Became fully functional in May 2009.
- Predecessor: Replaced the Monopolies and Restrictive Trade Practices Commission (MRTP Commission).
- Legal Framework: Constituted under the Competition Act, 2002.
Objectives
- Promote Competition: Ensure fair competition in the market.
- Prevent Anti-Competitive Practices: Prohibit agreements and practices that adversely affect competition.
- Protect Consumer Interests: Safeguard consumer rights and ensure freedom of trade.
- Regulate Combinations: Oversee mergers, acquisitions, and amalgamations to prevent market dominance.
Structure
- Chairperson: Currently headed by Ravneet Kaur (IAS), appointed in 2023.
- Members: One Chairperson and six Members, all appointed by the Central Government.
- Quasi-Judicial Body: Functions as a quasi-judicial authority to adjudicate competition-related cases.
Functions
- Anti-Competitive Agreements: Prohibits agreements that restrict competition (e.g., cartels).
- Abuse of Dominance: Prevents enterprises from abusing their dominant market position.
- Regulation of Combinations: Ensures mergers and acquisitions do not harm competition.
- Competition Advocacy: Promotes awareness and training on competition issues.
- Advisory Role: Provides opinions to statutory authorities on competition-related matters.
Key Provisions of the Competition Act, 2002
- Section 3: Prohibits anti-competitive agreements.
- Section 4: Prevents abuse of dominant position.
- Section 5 & 6: Regulates combinations (mergers, acquisitions, etc.).
Achievements and Initiatives
- Digital Forensics: Empanelment of digital forensic services to investigate anti-competitive practices.
- Advocacy Programs: Conducts workshops, conferences, and public awareness campaigns.
- Market Studies: Undertakes research to identify competition issues in various sectors.
- International Cooperation: Collaborates with global competition authorities for knowledge sharing.
Recent Developments
- 2025 Updates:
- Released draft regulations on the Manner of Recovery of Monetary Penalty.
- Consultation on the Determination of Cost of Production Regulations.
- Recognized Chairperson Ravneet Kaur as one of the “Most Powerful Women in Business” by a leading magazine.
- Budget Allocation: ₹756.19 crore for the financial year 2023–24.
Statistics
- Cases Handled: Over 1,000 cases of anti-competitive practices and abuse of dominance since inception.
- Penalties Imposed: Significant fines on companies for cartelization and abuse of dominance.
- Merger Approvals: Cleared numerous mergers and acquisitions to ensure fair competition.
Academic Relevance
- Case Studies: Landmark cases like the penalty on cement companies for cartelization.
- Policy Impact: Insights into how competition law shapes market dynamics.
- Global Comparisons: Understanding India’s competition law in the context of international frameworks.
Personalities
- First Chairperson: Dhanendra Kumar (2009).
- Current Chairperson: Ravneet Kaur (2023–present).
- Minister Responsible: Nirmala Sitharaman, Minister of Finance and Corporate Affairs.
