Q. With reference to the Competition Commission of India (CCI), how many of the following statements are correct?
1.The primary objective of the CCI is promoting and sustaining competition in the Indian market.
2.The CCI consists of representatives from various industry bodies.
3.It has the authority to conduct investigations and gather evidence of market manipulation.
Select the correct answer using the codes given below:
Explanation –
Statements 1 and 3 are correct. The primary objective of the Competition Commission of India (CCI) is to promote and sustain competition in the Indian market. The CCI was established under the Competition Act, 2002, with the aim of creating and maintaining a competitive environment in the Indian economy. It seeks to prevent practices that adversely affect competition, such as cartels, abuse of dominance, and anti-competitive agreements. The CCI has extensive powers to investigate suspected anti-competitive practices, including market manipulation. It can conduct raids, search premises, summon witnesses, and collect evidence to enforce the Competition Act, 2002.
Statement 2 is incorrect. The CCI is an independent body established by the Government of India. Its members are appointed by the central government based on their expertise in law, economics, finance, and management. Industry representatives are not directly included in the CCI’s composition.
Source: Forum IAS
