CCI holds round-table with businesses on corporate governance

The competition regulator Competition Commission of India (CCI) today held a round-table with leading companies and trade associations on competition compliance for good corporate governance.

Addressing the participants, Sachin Pilot, minister of state (independent charge), ministry of corporate affairs, stressed that the foremost objective of CCI is to ensure consumer protection.

Underlying the importance of healthy competition, Pilot said that a fair regulatory environment would help the Indian economy in moving up higher in the global business index.

Pilot said CCI would keep an eye on situations that appear to be anti-competitive such as raising profit margins inspite of reducing production levels. However, he emphasised that his ministry believed in consultation before taking a decision.

The amendments to the Competition Act have already been sent to the Standing Committee of the Parliament and he was hopeful that after seeking views/ suggestions, the amendments to the Competition Act would be given a legislative sanction.

During the round-table discussion, number of suggestions are believed to have been put up by participants.