CCI will focus on boosting enforcement, leveraging tech for fair competition: Chairperson Kaur

CCI will deal with strengthening enforcement, enhancing collaborations and leveraging know-how to make sure fair competition within the nation, its chief Ravneet Kaur has mentioned. Competition Commission of India (CCI), which has the mandate to foster honest competitors in addition to curb anti-competitive practices, has been engaged on understanding the dynamic interaction between conventional market practices and the quickly evolving digital economy.

“There may be an crucial want for a nimble, proactive regulatory method that adapts to rising market challenges, notably in sectors pushed by know-how and innovation,” Kaur informed PTI in a latest interview.

Varied amendments to the Competitors Act had been made in 2023 resulting in introduction of recent mechanisms, together with settlement, dedication and deal worth thresholds.

The CCI Chairperson emphasised that the endeavour is to strike a stability between efficient oversight and a simplified, market-friendly regulatory regime.

“Going ahead, our focus will likely be on strengthening enforcement, enhancing collaborations and leveraging know-how to uphold honest competitors in India,” she mentioned.

Amongst different efforts to spice up its capabilities, the watchdog plans to rent extra area consultants to assist assess competitors amid speedy adjustments within the know-how panorama.

“Recruitment of area consultants in areas like AI, information analytics and digital markets is a precedence. This may be certain that CCI stays future prepared and effectively geared up to deal with challenges posed by quickly evolving applied sciences,” Kaur mentioned.

At present, the regulator is conducting two market research on competitors points in relation to synthetic intelligence and to renewable power house throughout BRICS nations.