Competition Commission of India Current Affairs

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Sangeeta Verma joins Competition Commission of India (CCI)

Sangeeta Verma, a former Indian Economic Services (IES) officer has joined the Competition Commission of India (CCI) as a member. The order of the Ministry of Corporate Affairs states that the central government has appointed Sangeeta Verma as the member of CCI for a period of 5 years from the date of assumption of charge of the post, or until further orders, whichever is earlier.

The CCI is now at its full strength with Ashok Kumar Gupta as chairperson, Sangeeta Verma, Augustine Peter and UC Nahta as members. In April the union cabinet had reduced the number of members of the competition commission of India from six to three.

Competition Commission of India (CCI)

Competition Commission of India (CCI) aims to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of the consumers.

The Competition Commission of India (CCI) was established by the central government in 2003 under the provisions of the competition act 2002. CCI aims to establish a robust competitive environment through:

  • Proactive engagement with all stakeholders, including consumers, industry, government and international jurisdictions.
  • Being a knowledge-intensive organization with high competence level.
  • Professionalism, transparency, resolve and wisdom in enforcement.

The vision of the CCI is “To promote and sustain an enabling competition culture through engagement and enforcement that would inspire businesses to be fair, competitive and innovative; enhance consumer welfare, and support economic growth”.

Month: Categories: India Current Affairs 2018

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Ashok Kumar Gupta appointed as Chairperson of Competition Commission of India

Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi has appointed former IAS officer Ashok Kumar Gupta as Chairperson of Competition Commission of India (CCI). He replaces acting chairperson Sudhir Mital. He will be in office till October 25, 2022 i.e. till he attains age of 65 years or until further orders, whichever is the earliest. Gupta is former IAS officer of the Tamil Nadu cadre.

Competition Commission of India (CCI)

CCI is quasi-judicial statutory body established under The Competition Act, 2002. It was established in October 2003 and became fully functional in May 2009. Section 8(1) of the Act provides CCI shall consist of Chairperson and not less than two and not more than six Members. Presently, Chairperson and four Members are in position. It has been functioning as collegium right from its inception. It functions under Ministry of Cooperate Affairs.

CCI aims to eliminate practices that adversely affect competition in different industries and protect interests of consumers and ensure freedom of trade. Its seeks to eliminate practices having adverse effect on competition, promote and sustain competition, protect interests of consumers and ensure freedom of trade in markets of India. It also gives opinion on competition issues on reference received from statutory authority established under any law and undertakes competition advocacy, create public awareness and impart training on competition issues.

Month: Categories: India Current Affairs 2018

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