Balancing Growth and Vigilance: The CCI's Role in India's Economic Future

Finance Minister Nirmala Sitharaman, speaking at the 16th Annual Day function of the Competition Commission of India (CCI), stressed the need for a balance between regulatory vigilance and a pro-growth mindset to establish a resilient and innovative economic framework.

The CCI, integral to promoting fair competition in the marketplace, also oversees mergers and acquisitions surpassing certain thresholds. Sitharaman pointed out the challenges posed by new technologies, particularly artificial intelligence, on market power and transparency.

She highlighted issues like digital monopolies and the necessity for global cooperation on regulation, urging the regulatory framework to ensure swift approvals for competitive mergers. The event also saw the release of tools to assist public procurement officers.

(With inputs from agencies.)