FM Nirmala Sitharaman acknowledges and appreciates CCI’s emphasis on putting in place trust-based systems

Finance Minister Nirmala Sitharaman has highlighted the imperative for the Competition Commission of India (CCI) to have a market-friendly and forward-looking approach in the rapidly changing Indian and the global economy. She said this while virtually commemorating the 12th Annual Day of the CCI today. The Minister acknowledged and appreciated the CCI’s emphasis on putting in place a trust-based system saying this is important in economies such as India which are still transitioning to a free market economy.

Referring to the challenges of post-pandemic revival of enterprises, she stressed on the need for the CCI to proactively engage with industry so as to ensure that their legitimate claims are patiently heard while also making sure that knowingly or unknowingly market processes are not undermined. In view of the ever-widening contours of the economy and the new-age India, the Minister urged the Commission to evolve with the speed, scale and visionary look needed for the economy to thrive and for fair genuine market practices to flourish.

Minister of State for Finance, Anurag Singh Thakur urged the Commission to be nimble, forward looking and evolve in response to the changing market dynamics.

He also observed that the Commission’s efforts in conducting market studies would go a long way in building capacity for the effective discharge of CCI’s regulatory mandate. On this occasion, the CCI Journal on Competition Law and Policy and CCI’s Competition Advocacy Booklets translated into Bengali, Marathi and Tamil languages were also released.


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