Competition Commission of India

Competition Commission of India

The competition Commission of India was established under the competition Act 2002, for the administration, implementation and enforcement of the act and was duly constituted in March 2009. Chairman and members are appointed by the central government.

The following are objectives of the Commission:

• To prevent practices having adverse effect on competition
• To promote and sustain competition in markets
• To protect the interest of consumers.
• To ensure freedom of trade.

Functions of the commission:

• It is the duty of the commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interest of consumers and ensure freedom of trade in the market of India.
• The commission is also required to give opinion on competition issues on a reference statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

The competition act:

The competition Act 2002 as amended by the competition( amendment) act 2007, prohibits anti competitive agreements, abuse of dominant position by Enterprises and regular combinations, which causes or likely to cause an appreciable adverse effect on competition within India