Corporate Affairs Minister Harish Malhotra Lauds CCI For Curbing Abusive Practices Of Dominant Enterprises
Corporate Affairs Minister Harish Malhotra Lauds CCI For Curbing Abusive Practices Of Dominant Enterprises
He was speaking at the 10th National Conference on Economics of Competition Law organized in New Delhi
The Ministry of Corporate Affairs (MCA) has praised the Competition Commission of India (CCI) for its impactful role in curbing the abusive conduct of dominant enterprises.
Speaking at the 10th National Conference on Economics of Competition Law, organized by the CCI in New Delhi, Minister of State for Corporate Affairs Harish Malhotra underscored the regulator’s importance in ensuring fair competition and a level playing field in the markets.
He emphasized the role of the micro, small and medium enterprises (MSME) sector, which contributes 80 percent of manufacturing output, 45 percent of exports, and 30 percent of India's GDP.
The minister stated, "It is important to watch the interest of stakeholders, including MSMEs, to provide them with fair opportunities to compete and innovate.”
Encouraging the Commission to actively engage with stakeholders, including industry associations, and consider their viewpoints, he stressed the importance of including the younger generation in deliberations to bring in fresh and new perspectives.
The minister said that the government considered the views of the stakeholders, on policies, schemes and regulations.
Acknowledging the significance of the Conference, he said that such activities contributed significantly to the country’s economic growth. The ministry aimed to foster an ecosystem where fair competition benefitted businesses and consumers, leading to dynamic and vibrant marketplaces, he added.
Ravneet Kaur, Chairperson, CCI, said regulators were adopting a dynamic approach to address the issues emerging in increasingly complex markets and rapid innovation in technology. The goal has been to balance innovation with competition, ensuring fair and open markets, where competition and technological progress can co-exist.
Referring to artificial intelligence (Al) as a driving force in modern markets, the Chairperson stressed the need for regulators to stay abreast to deal with algorithmic collusion, uncover hidden anti-competitive behavior and protect consumers.
