CCI’s 16th Annual Day: Sitharaman Stresses Pro-Growth, Fair Competition Agenda
Delivering the keynote address, Smt. Sitharaman lauded the CCI for emerging as a vital institution upholding the spirit of India’s economic liberalisation.
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- India
In a significant reaffirmation of India’s commitment to market fairness, innovation, and regulatory foresight, Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presided over the 16th Annual Day celebrations of the Competition Commission of India (CCI) in New Delhi. The event, graced by key figures from the government, academia, legal fraternity, industry, PSUs, and regulatory bodies, underscored the pivotal role of CCI in fostering a competitive, transparent, and inclusive economic ecosystem.
CCI: Championing Liberalisation and Fair Markets
Delivering the keynote address, Smt. Sitharaman lauded the CCI for emerging as a vital institution upholding the spirit of India’s economic liberalisation. Emphasising that markets must work for the many, not the few, she noted that CCI’s integrated approach—spanning enforcement, advocacy, market research, and regulatory reform—has contributed meaningfully to shaping a competitive environment where enterprises of all sizes thrive on merit, consumer choice is upheld, and innovation is nurtured.
The Union Minister highlighted the transformative role of CCI in maintaining the sanctity of competition law. Its decisive action against anti-competitive behaviour, coupled with a facilitative stance towards legitimate business practices, has significantly boosted investor confidence and ensured that the Indian market remains robust and inclusive.
Aligning with Viksit Bharat 2047: Regulatory Vigilance Meets Growth
Referring to India’s long-term developmental aspiration of “Viksit Bharat 2047”, Smt. Sitharaman stressed the importance of balancing regulatory oversight with a growth-centric outlook. In an era of global challenges—ranging from trade disruptions and environmental constraints to shifting energy dynamics—the ability to harness domestic economic levers becomes essential. She asserted that a responsive and agile regulatory regime will be instrumental in creating a resilient and innovation-led economy.
She reiterated the government’s vision of a “light-touch regulatory framework”, as enshrined in the Union Budget 2025–26, urging regulators to adopt the guiding principle of “minimum necessary, maximum feasible” intervention to enable market dynamism without stifling innovation or enterprise.
Digital Markets and AI: Navigating Emerging Frontiers
Smt. Sitharaman spotlighted the ongoing market study by CCI on Artificial Intelligence and its implications on competition, calling it a “timely and strategic initiative.” The creation of the “Digital Markets Division” within the CCI was also hailed as a forward-thinking step towards building a hub of excellence to understand tech markets, enhance inter-regulatory collaboration, and engage meaningfully in global regulatory dialogues.
In an increasingly digitised and globally integrated economy, the Minister underscored the need for institutions like CCI to stay visible and engaged. She encouraged the Commission to host awareness campaigns, stakeholder consultations, and compliance workshops across India to strengthen grassroots understanding of competition principles.
Launch of Key Publications: Enhancing Transparency and Compliance
As part of the Annual Day commemorations, the Finance Minister released two vital documents—“FAQs on Combinations” and “Diagnostic Toolkit Towards Competitive Tenders for Public Procurement.”
The FAQs address pivotal changes introduced through the Competition (Amendment) Act, 2023, and the updated Combination Regulations of 2024. They provide clear, practical guidance on complex merger control topics such as Deal Value Thresholds, Substantial Business Operations in India, and procedural refinements.
The Diagnostic Toolkit is a practitioner-oriented guide tailored for public procurement officers. It aims to detect and prevent bid rigging in public tenders, aligning with recent legal amendments to enhance transparency and competitiveness in government contracting.
Reflections by CCI Leadership: A Future-Ready Regulator
In her welcome address, Smt. Ravneet Kaur, Chairperson of the CCI, traced the Commission’s evolution over the past 16 years. She noted that while the foundational objective—preventing practices detrimental to competition—has remained steadfast, the strategies and tools employed have evolved to match India’s dynamic economic and technological landscape.
She highlighted the CCI’s forward-looking regulatory model, rooted in enforcement, stakeholder advocacy, and institutional capacity building. The Commission’s jurisprudence, she explained, has helped clarify critical aspects of competition law, thereby enabling compliance and instilling trust among stakeholders.
Smt. Kaur informed the gathering that, to operationalise reforms introduced under the 2023 Amendment Act, the CCI has overhauled its regulatory framework—introducing or revising ten key regulations and guidelines in the past 18 months. These changes, she said, signal a transformative shift in India’s competition regime.
With a special focus on the digital economy, Smt. Kaur mentioned the Commission’s ongoing market studies, including the one on AI, and its investments in building internal capabilities in data science and techno-economic assessments.
She concluded by reiterating that CCI’s mission aligns seamlessly with the vision of Viksit Bharat 2047—through the promotion of open, fair, and contestable markets that support small businesses, prevent monopolistic practices, and foster digital inclusion.
Vote of Thanks and Way Forward
Shri Anil Agrawal, Member of CCI, delivered the vote of thanks, expressing deep appreciation to the Union Finance Minister for sharing her vision and affirming the Commission’s crucial role in shaping India’s future economic landscape.
As India navigates the twin imperatives of domestic development and global competitiveness, the CCI’s proactive stance and regulatory acumen will be pivotal in safeguarding the principles of fairness, inclusivity, and transparency—cornerstones of a truly progressive economy.
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