{"id":115681,"date":"2021-06-30T22:24:48","date_gmt":"2021-06-30T16:54:48","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=115681"},"modified":"2021-06-30T22:24:48","modified_gmt":"2021-06-30T16:54:48","slug":"what-cci-has-to-do-with-economic-opportunity","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/what-cci-has-to-do-with-economic-opportunity\/","title":{"rendered":"What CCI has to do with economic opportunity?"},"content":{"rendered":"\n<p><b>Source: <\/b><a href=\"https:\/\/epaper.livemint.com\/Home\/ShareArticle?OrgId=306144cdac3&amp;imageview=0\"><b>LiveMint<\/b><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><b>Synopsis: <\/b><span style=\"font-weight: 400;\">The CCI wants to monitor monopolistic, restrictive, exploitative, and exclusionary trade practices. It ordered a probe into huge digital corporations like Google, Amazon, and WhatsApp&#8217;s new privacy policy, as well as sectors like cars.<\/span><\/p>\n<h5><b>What is CCI? Why was it introduced?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">India&#8217;s antitrust regulator, the CCI, was established in 2003. It is governed by the 2002 Competition Act, which aims to provide a stable competitive environment. The competition law safeguards trade from the whims of unjust commercial activities like price-fixing and ensures that fair competition prevails.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This Act, which focuses on increasing competition and business freedom, <\/span><b>replaced the Monopolies and Restrictive Trade Practices (MRTP) Act of 1969,<\/b><span style=\"font-weight: 400;\"> which was aimed at preventing monopolies and restricting enterprises with assets of over 100 crores from expanding. It is similar to antitrust legislation in nations such as the United States.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>The CCI Act was created with the goal of stimulating market competition<\/b><span style=\"font-weight: 400;\">, preserving consumer interests, and ensuring trade freedom while keeping the country&#8217;s economic progress in mind. The prior system of regulating firms with assets worth more than 25 crores (relaxed to 100 crore in1985) was unscientific before the MRTP Act of 1969.<\/span><\/li>\n<\/ul>\n<h5><b>What is the role of CCI in promoting equitable opportunity across the economy?<\/b><\/h5>\n<ul>\n<li style=\"font-weight: 400;\"><b>The Competition Act aims<\/b><span style=\"font-weight: 400;\"> to prevent huge businesses from entering into anti-competitive agreements and abusing their dominating position. It governs mergers and acquisitions that may have an anti-competitive effect. It prohibits price-fixing, market allocation, predatory pricing, and tied selling, as well as other horizontal and vertical constraints.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u00a0<\/span><b>The economy can reduce its deadweight loss<\/b><span style=\"font-weight: 400;\">, which is a cost caused by market inefficiencies, by boosting competition and supporting free trade.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>It aims to defend customers&#8217; interests<\/b><span style=\"font-weight: 400;\"> in terms of price, quality, and availability of a diverse range of products by limiting the scope for monopoly advantage exploitation.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>This will also contribute to India&#8217;s tale of being a desirable investment destination<\/b><span style=\"font-weight: 400;\"> for both global and domestic investors by fostering a competitive and efficient market system. CCI is known to have intervened in situations of cement and steel cartelization.<\/span><\/li>\n<\/ul>\n<h5><b>Conclusion<\/b><\/h5>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Google, Amazon, and Flipkart have been accused of abusing their dominating positions in the smart TV industry and of evading foreign investment e-commerce restrictions. In the information technology sector, 11 and five companies were issued notices for breaking regulations in 2018-19 and 2019-20, respectively.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>The scope of anti-competitive agreements should not be restricted <\/b><span style=\"font-weight: 400;\">to horizontal and vertical limitations, according to a government-appointed commission in 2019. It also stated that high-value deals involving technological corporations may go unnoticed, necessitating a re-examination.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: LiveMint &nbsp; Synopsis: The CCI wants to monitor monopolistic, restrictive, exploitative, and exclusionary trade practices. It ordered a probe into huge digital corporations like Google, Amazon, and WhatsApp&#8217;s new privacy policy, as well as sectors like cars. What is CCI? Why was it introduced? India&#8217;s antitrust regulator, the CCI, was established in 2003. It&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/what-cci-has-to-do-with-economic-opportunity\/\">Continue reading <span class=\"screen-reader-text\">What CCI has to do with economic opportunity?<\/span><\/a><\/p>\n","protected":false},"author":10315,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[],"class_list":["post-115681","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704796242},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/115681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10315"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=115681"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/115681\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=115681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=115681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=115681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}