The Competition Commission of India is gradually taking shape. The Commission was set up on October 14, 2003 under the aegis of the Ministry of Company Affairs. The foundational work for setting up the new organisation has begun. The Commission has initiated a number of competition awareness activities, set up a website and attempted draft rules and regulations. It has also interacted with academic bodies and professional institutions for inclusion of competition policy and law in the course curriculum. These activities are aimed at generating greater awareness of competition issues among the stakeholders.
The Commission’s brief is to prevent practices having an adverse effect on competition. It is also responsible for promoting and sustaining competition in market to protect consumers’ interest.
SMK/ls
(Release ID :7505)