Competition Commission of India (CCI)

Competition Commission of India (CCI)

Why in news : In October month  this year, the CCI (Competition Commission of India) imposed a penalty of nearly 1300 crore rupees on Google for abusing its dominant position in the android mobile device ecosystem.

Key facts about the CCI :

  • The Competition Commission of India is the chief national competition regulator in India.
  • It is a statutory body established under the Competition Act,2002.
  • The Commission consists of one Chairperson and six Members who shall be appointed by the Central Government.
  • It replaced the earlier Monopolies and Restrictive Trade Practices Commission which was created by the MRTP ACT, 1969.
  • It comes within the purview of the Ministry of Corporate Affairs.
  • It is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities that have an adverse effects on competition with in India.
  • The CCI looks into cases and investigates them if the same has a negative impact on competition.
  • CCI also approves combination under the act so that two merging entities do not overtake the market.

Syllabus : Prelims + Mains; GS2 – Various statutory bodies in news