By TIOL News Service

NEW DELHI, NOV 23, 2024:THE Competition Commission of India (CCI), in association with Merchants' Chamber of Commerce & Industry, organized a Regional Workshop on Competition Law at Kolkata today.

During the Inaugural Session of the Workshop, Smt. Ravneet Kaur, Chairperson CCI delivered Keynote Address where she highlighted the instrumental role played by trade and industry chambers in providing a platform for engaging in open dialogue and exchanging ideas that drive our economy forward while maintaining a level playing field. At the same time, she urged the associations to operate within the framework of competition law.

She further stressed that CCI remains committed to working proactively and collaboratively with trade associations to ensure compliance with competition laws.

Referring to the recent pathbreaking reforms effected in the competition law regime, she pointed out that regulatory landscape has evolved significantly with the introduction of the Competition Amendment Act, 2023, to address the emerging challenges and strengthen our commitment to making India a global hub for business. These transformative amendments have been implemented by the CCI. Specifically, she highlighted that introduction of commitments and settlements regime is a game changer in how competition law is enforced. This mechanism enables businesses to voluntarily offer solutions that address competition concerns without undergoing lengthy legal proceedings. It allows for quicker market corrections, conserving regulatory resources, and provides businesses an opportunity to avoid adversarial proceedings.

The Chairperson expressed confidence that the Workshop will serve as a platform to foster meaningful discussions, enhance understanding, and build synergies between regulators and industry participants. Competition law continues to serve as a catalyst for innovation, economic growth, and consumer welfare.

Following the Inaugural Session, two Technical Sessions were conducted by the Officers of CCI. The first Session focused on ‘Collusive Conduct and Leniency' and second Session focussed on ‘Competition Law Compliance: Do's and Don'ts for Enterprises'.