NEW DELHI, Jan 5: CCI will focus on strengthening enforcement, enhancing collaborations and leveraging technology to ensure fair competition in the country, its chief Ravneet Kaur has said.
Competition Commission of India (CCI), which has the mandate to foster fair competition as well as curb anti-competitive practices, has been working on understanding the dynamic interplay between traditional market practices and the rapidly evolving digital economy.
“There is an imperative need for a nimble, proactive regulatory approach that adapts to emerging market challenges, particularly in sectors driven by technology and innovation,” Kaur told PTI in a recent interview.
Various amendments to the Competition Act were made in 2023 leading to introduction of new mechanisms, including settlement, commitment and deal value thresholds.
The CCI Chairperson emphasised that the endeavour is to strike a balance between effective oversight and a simplified, market-friendly regulatory regime.
“Going forward, our focus will be on strengthening enforcement, enhancing collaborations and leveraging technology to uphold fair competition in India,” she said.
Among other efforts to boost its capabilities, the watchdog plans to hire more domain experts to help assess competition amid rapid changes in the technology landscape.
“Recruitment of domain experts in areas like AI, data analytics and digital markets is a priority. This will ensure that CCI remains future ready and well equipped to address challenges posed by rapidly evolving technologies,” Kaur said.
Currently, the regulator is conducting two market studies on competition issues in relation to artificial intelligence and to renewable energy space across BRICS nations. (PTI)
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