Competition Act 2002 Current Affairs - 2019
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Government e Marketplace (GeM) and Competition Commission of India (CCI) have signed a Memorandum of Understanding to enable a fair and competitive environment in the e-Marketplace.
Combating Anti-competitive practices
Both CCI and GeM attach significant importance to the advanced analytical tools and processes for identification of malpractices like cartelization. Hence to pool their knowledge of the public procurement domain for detection of Anti-competitive practices GeM and CCI have signed a MoU.
Government e Marketplace (GeM)
GeM is a state-of-the-art national public procurement platform of Ministry of Commerce and Industries. GeM facilitates online procurement of common use Goods & Services required by various Government Departments / Organisations / PSUs.
GeM provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users, achieve the best value for their money.
GeM aims to enhance transparency, efficiency and speed in public procurement and has used technology to remove entry barriers for bonafide sellers and has created a vibrant e-marketplace with a wide range of goods and services.
Competition Commission of India (CCI)
Competition Commission of India is a statutory body of the Government of India, responsible for enforcing the Competition Act, 2002 throughout the country and to prevent activities that have an adverse effect on competition. CCI consists of a Chairperson and 6 Members appointed by the Central Government.
The Competition Commission of India has approved the deal wherein Samara Capital-backed Witzig Advisory Services and Amazon will acquire Aditya Birla Retail Ltd, which operates a supermarket store chain ‘more’.
As per the deal, 99.99 per cent of the equity share capital of Aditya Birla Retail would be acquired by Witzig and 49 per cent stake buys in Witzig by Amazon’s subsidiary Amazon NV Investment Holdings LLC.
Competition Commission of India
Competition Commission of India is a statutory body established under The Competition Act, 2002. The objectives of the competition commission of are:
- To prevent practices having an adverse effect on competition.
- To promote and sustain competition in markets.
- To protect the interests of consumers.
- To ensure freedom of trade carried on by other participants in markets, in India.
The Competition Act has bestowed following responsibilities on the CCI:
- To prohibit anti-competitive agreements
- To prohibit abuse of dominant position
- To regulate combinations
- Competition advocacy.
The Competition Commission of India comprises of a Chairperson and six members appointed by the Central Government.