CCI Chairperson Outlines Vision for Indian Industry

Visakhapatnam: Ravneet Kaur, Chairman, Competition Commission of India, delivered the keynote address at the competition law workshop organized by Damodaram Sanjivayya National Law University in association with the Competition Commission of India at Sabbavaram in Anakapalli district on Friday. He underlined the instrumental role of chambers of commerce and industry in providing a platform for open dialogue and exchange of ideas to move the Indian economy forward and also ensure a level playing field.

Ranveet Kaur also called on associations to operate within the framework of competition law. He also emphasized that CCI is committed to working proactively and collaboratively with universities to ensure compliance with competition laws.

Referring to recent path-breaking reforms in the competition law regime, he noted that the regulatory environment has improved significantly with the enactment of the Competition Amendment Act, 2023 to address the emerging challenges and strengthen the commitment to make India a global business hub. CCI implemented these transformative changes.

In particular, he underlined that the introduction of the commitments and settlement regime was a game-changer in the implementation of competition law. This mechanism allows businesses to voluntarily submit solutions to competition issues without the need for lengthy legal proceedings. It allows for faster market corrections, preserves regulatory resources, and offers businesses the opportunity to avoid contentious transactions. He stated that competition law continues to catalyze innovation, economic growth and consumer welfare.

Vice Rector Prof. D. Suryaprakasa Rao focused on the background of Competition Commission of India and its importance in the current scenario. He expressed confidence that the workshop will serve as a platform to foster meaningful discussions, improve understanding and create synergy between organizers and academic participants.