Competition Commission of India

 As of my last knowledge update in January 2022, the Competition Commission of India (CCI) is the regulatory body in India responsible for enforcing competition laws and ensuring fair competition in the market. It was established under the Competition Act of 2002 and became fully functional in 2009. The CCI's primary objective is to prevent anti-competitive practices and promote fair competition in the Indian market.

Key functions and responsibilities of the Competition Commission of India include:

1. Prevention of Anti-Competitive Agreements: The CCI prohibits agreements that restrict competition, such as cartels, price-fixing, bid-rigging, and market-sharing agreements.

2. Abuse of Dominant Position: The CCI investigates and takes action against entities that abuse their dominant position in the market, leading to adverse effects on competition.

3. Regulation of Combinations: The CCI assesses mergers and acquisitions to ensure that they do not have an adverse impact on competition in the relevant market.

4. Competition Advocacy: The CCI engages in advocacy and awareness programs to promote competition and educate businesses, policymakers, and the public about the benefits of a competitive market.

5. Competition Law Enforcement: The CCI investigates complaints of anti-competitive practices, conducts inquiries, and takes appropriate enforcement actions.

6. Market Studies and Research: The CCI conducts studies and research to understand market dynamics and identify areas where competition may be lacking or distorted.

7. Capacity Building: The CCI focuses on building capacity within the organization and enhancing the understanding of competition issues among stakeholders.

The CCI plays a crucial role in ensuring a competitive and fair business environment in India. It has the authority to impose penalties on entities found to be violating competition laws and can issue orders to cease anti-competitive practices.

Please note that developments may have occurred since my last update in January 2022. It's advisable to check the latest sources or the official website of the Competition Commission of India for the most current information.