New Delhi, May 21, 2018
The Comptroller and Auditor General of India (CAG) Rajiv Mehrishi has called for statutory amendments and setting up of some 'engagement protocols' between the Competition Commission of India (CCI) and sectoral regulators to address overlap issues.
This is required to resolve the "jurisdictional overlap" that sectoral regulators face with CCI on account of the former having competition provisions in their legislations, Mehrishi said delivering the 9th Annual Day lecture of CCI here.
He also felt that CCI given its specialised skills and experience across sectors is best placed to regulate markets on matters of Competition. Mehrishi also emphasised the need of a market regulator to address the issue of market failure.
Devender Kumar Sikri, Chairman, CCI highlighted Commission's journey in last nine years.
During the last nine years, the CCI has reviewed 951 antitrust cases, 569 merger filings and has held more than 600 advocacy events, he said.
Injeti Srinivas, Secretary, Ministry of Corporate Affairs, lauded the crucial role played by CCI at each stage of Corporate life cycle--entry of firms, operation in markets and exit of firms.
He stressed the need to expand regional outreach of CCI, simplify procedures of Competition regulation, and strengthen internal capacity of the Commission.
[The Hindu Business Line]