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TMI BlogUnion Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman presides over 16th Annual Day commemoration of Competition Commission of India, in New DelhiX X X X Extracts X X X X X X X X Extracts X X X X ..... Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman presides over 16th Annual Day commemoration of Competition Commission of India, in New Delhi X X X X Extracts X X X X X X X X Extracts X X X X ..... aman presided over the 16th Annual Day commemoration of the Competition Commission of India (CCI), at New Delhi. In her address, the Union Finance Minister said that the CCI has emerged as a key institution in safeguarding the spirit of liberalisation. Markets must work for the many, not the few, she said. The CCI's interventions, through enforcement, advocacy, market studies and regulatory reforms, play a significant role in facilitating an environment where enterprises, big and small, can compete on merit, where consumers are empowered with choices, and where innovation and efficiency are rewarded, Smt. Sitharaman added. Referring to India's aspiration of Viksit Bharat 2047, the Union Finance Minister emphasised that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ability of the CCI to strike a balance between regulatory vigilance and a pro-growth mindset will be integral to building a resilient, equitable, and innovation-driven economic framework. In an export-environment-energy-and-emissions challenged world, the increased reliance on domestic growth levers requires ensuring the right balance of regulation and freedom. Lauding the CCI's regulatory approach, Smt. Sitharaman said that the CCI has upheld the sanctity of the law through firm and decisive enforcement actions against anti-competitive practices while showing equal commitment to enabling legitimate business conduct. This has contributed significantly to inclusive market development and building investor confidence in India's regulatory fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amework. The Union Finance Minister said that India's ongoing structural reforms are geared towards unlocking market potential and deepening competition. Mentioning the importance of "light touch regulatory framework" mentioned in the Union Budget 2025-26, Smt. Sitharaman emphasised on the imperative for regulators to be guided by the principle of 'minimum necessary, maximum feasible'. Speaking on the emerging challenges facing the CCI, the Union Finance Minister emphasised on the need for global cooperation and agile regulation. The recently initiated market study by the CCI on Artificial Intelligence and Competition is a timely and strategic initiative, she said. The establishment of the 'Digital Markets Division' is also a timely ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... move, which is expected to become a centre of excellence in understanding technology markets, forging inter-regulatory partnerships, and engaging in global discourse. Underlining the importance of CCI to be approachable and visible as markets deepen and diversify across India, the Union Minister said that holding awareness camps, stakeholder consultations, and compliance workshops in different parts of the country would help in building a more informed ecosystem and making competition principles more widely understood and followed. As India integrates further with global value chains and digital ecosystems, maintaining open and contestable markets will be crucial to India's competitiveness, the Union Minister said. CCI, through its uniqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e mandate and cross-sectoral role, will be a key enabler in this journey - whether it is facilitating market access for MSMEs, addressing barriers that impede fair competition, promoting digital inclusion, or ensuring that consumers benefit from better choices, lower prices, and improved quality, Smt. Sitharaman observed. The Union Finance Minister also released CCI's "Diagnostic Toolkit Towards Competitive Tenders for Public Procurement" and "FAQs on Combinations" at the 16th Annual Day celebrations. The FAQs on Combinations respond to the significant changes brought by the Competition (Amendment) Act, 2023 and the newly notified Combination Regulations, 2024. It offers clear and practical guidance on key aspects of merger control, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... including the Deal Value Threshold, Substantial Business Operations in India, and updated procedures. The Diagnostic Toolkit for Public Procurement Officers, updated in light of recent amendments to the law, is a practical resource designed to help procurement officials detect and prevent bid rigging. In her welcome address earlier, Smt. Ravneet Kaur, Chairperson, CCI, reflected upon 16 years of CCI's journey and apprised on the recent developments in the competition enforcement regime in India. Since its establishment, the CCI has progressively transformed into a robust, responsive, and future-ready market regulator, CCI Chairperson said. While the foundational mandate of the CCI - preventing practices having adverse effect on competitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n - has remained constant, the mechanism and strategies employed to fulfil this mandate have evolved in tandem with the dynamic shifts in India's economic and technological landscape, Smt. Kaur added. Smt. Kaur highlighted that the CCI has adopted a forward-looking regulatory approach, characterized by a judicious blend of enforcement, advocacy, and institutional capacity building. Its jurisprudence has provided critical guidance on key aspects of competition law - ranging from cartels and abuse of dominance to merger control - thereby fostering compliance and instilling confidence among stakeholders. These efforts have collectively laid the foundation for an ecosystem where fair competition is seen not merely as a legal obligation but ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as a strategic imperative for growth and innovation, the CCI Chairperson said. Smt. Kaur apprised that in order to effectively operationalise the far-reaching reforms introduced through the Competition (Amendment) Act, 2023, the CCI has undertaken a comprehensive and rigorous review of its existing regulatory framework. The set of 10 new and revised regulations & guidelines notified in the last 1½ year represent a transformative shift in the competition law regime in India, she said. In the context of digital economy, Smt. Kaur mentioned that the CCI has undertaken market studies, including the Market Study on Artificial Intelligence and Competition which is currently underway. The CCI is also investing in internal expertise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to strengthen our capabilities in data science, and techno-economic assessment. Smt. Kaur concluded with observation that CCI's mandate is inherently aligned with the Government's vision of Viksit Bharat 2047, whether it relates to market access for small businesses, prevention of monopolistic practices, or promotion of digital inclusion. Smt. Kaur also assured that CCI remains committed to upholding the principles of fairness, inclusivity, and transparency in all its endeavours. In his vote of thanks, Shri Anil Agrawal, Member, CCI, thanked the Union Finance Minister for gracing this occasion and sharing her vision for the CCI. The event was attended by a large number of dignitaries from the government, regulatory bodies, PSU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, industry, academia, chambers of commerce, and the legal fraternity. X X X X Extracts X X X X X X X X Extracts X X X X
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