National Competition Policy in the final stages of adoption – CCI celebrates 3 years of enforcement of competition laws

Posted: 23/05/2012 in CCI, News

Government is in the process of bringing out a National Competition Policy that will aim to achieve highest sustainable levels of economic growth, entrepreneurship and employment. Minister of Corporate Affairs Dr. Veerappa Moily stated this while speaking at the annual day workshop organised by Competition Commission of India jointly with UNCTAD to commemorate three years of implementation of Competition Act. Dr. Moily stated that the proposed New National Competition Policy has already been circulated to the Ministries /Departments for their comments and thereafter the policy will be put up to Cabinet for approval.

Dr. Veerappa Moily congratulated the Competition Commission of India for completing three years of enforcement of competition laws. He observed that some of the decisions of CCI have proved to be important milestones in ensuring free play of market forces in a liberalised economy. The Union Minister of Corporate Affairs also stressed that ultimately consumers should be the focus of any policy that Govt. makes and consumer should be the ultimate beneficiary.

Dr. Veerappa Moily opined that the objective of competition laws was to protect competition and not the competitors. He highlighted the need for competition to be promoted, protected and nurtured through appropriate regulatory mechanism. Policies initiated and pursued in various sectors like manufacturing, electricity, telecommunications, roads, transport, civil aviation, tourism etc. have yielded rich dividends so far. Dr. Moily stated that there has been an addition of 45 million new entrepreneurs during the last two decades on account of introduction of Competition. The minister expressed the hope that effective enforcements of Competition Laws and enactment of new National policy will pave the way for the second biggest reform initiatives after the 1991 economic reforms.

Earlier Shri Ashok Chawla, Chairperson, Competition Commission of India stressed on the need to sensitise the state Owned Enterprises about the Competition Act so that they could have robust, Competition Compliance and good operating practices that could be emulated by their private counter parts.

Shri Naved Masood, Secretary, Ministry of Corporate Affairs, Shri O.P.Rawat, Secretary, Department of Public Enterprises and Mr. Hassan Qugaya , Head, Competition and consumer Protection Branch, UNCTAD also spoke on the occasion.

The two day workshop have been organised by Competition Commission of India on the subject of Competition Law and State Owned Enterprises (SOEs). The workshop is being attended by Secretaries of various Ministries and Chiefs of PSUs. Speakers from jurisdictions such as Russia, United Kingdom, European Commission, Korean Fair Trade Commission, Korea, South Africa and Australian Authority are participating in the workshop.

Source: Press Information Bureau.

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