The Competition Commission of India (CCI) has achieved a significant milestone by becoming a part of the prestigious 18-member steering committee of the International Competition Network (ICN). This accomplishment is the result of consistent efforts and dedication on the part of the Indian regulator.
The International Competition Network (ICN)
The ICN, which comprises 140 competition agencies from around the world, is a unique global body dedicated exclusively to competition law enforcement. Its primary purpose is to provide antitrust authorities with a specialized and informal platform for maintaining regular contacts and addressing practical competition concerns. The ICN facilitates cooperation and collaboration among competition authorities, fostering a global network of knowledge and expertise.
The Role of the ICN’s Steering Committee
The steering committee is the apex body of the ICN, responsible for guiding and overseeing its activities. The committee plays a crucial role in shaping the agenda and priorities of the ICN, ensuring that it remains relevant and effective in addressing emerging issues in competition law. It consists of 18 member agencies selected for their expertise and commitment to promoting fair and competitive markets.
CCI’s Journey to the Steering Committee
The Competition Commission of India’s inclusion in the ICN’s steering committee is a testament to the regulator’s consistent efforts in the field of competition law enforcement. India’s commitment to promoting fair competition and its proactive engagement in international dialogues have earned it a place among the select few competition authorities that guide the ICN’s global initiatives.
Recent BRICS Conference on Competition Regulation
Last month, India hosted the bi-annual conference of the competition regulators of the BRICS grouping, which comprises Brazil, Russia, India, China, and South Africa. This conference marked a significant event, as it brought together competition authorities from these emerging economies to deliberate on new dimensions of antitrust regulations and related matters. During the BRICS conference, competition authorities discussed a range of issues, both existing and emerging, in the realm of anti-trust regulation.
Key Topics During The BRICS Conference
Regulations for Digital Players
With the rapid proliferation of digital platforms and technology companies, the need for effective competition regulations in the digital space has become paramount. Participants at the conference explored ways to address the unique challenges posed by digital marketplaces and ensure fair competition in this evolving landscape.
The leniency regime is a crucial tool in antitrust enforcement, offering incentives for companies to come forward with information about anti-competitive practices. The conference provided a platform for BRICS nations to discuss and share best practices in leniency programs, enhancing their effectiveness in combatting antitrust violations.
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