Trade associations must operate within the framework of competition law, as their significant influence can sometimes result in unintended consequences such as facilitating anti-competitive agreements or practices, says Ravneet Kaur, President of Competition Commission of India (CCI).

Addressing a regional workshop organized by CCI in association with Merchants’ Chamber of Commerce & Industry (MCCI) in Kolkata, Kaur emphasized CCI’s commitment to proactive and collaborative engagement with trade associations to maintain compliance with competition laws.

Kaur highlighted the important role that chambers of commerce and industry play in providing a platform to engage in open dialogue and exchange ideas that drive our economy forward while maintaining a level playing field.

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Referring to the recent competition law reforms, she pointed out that the regulatory framework has evolved significantly with the introduction of the Competition Amendment Act, 2023, to address the emerging challenges and strengthen our commitment to make India a global hub for business.

These transformative changes have been implemented by CCI. Specifically, she emphasized that the introduction of undertakings and settlements is a change in the way competition law is enforced. This mechanism allows companies to voluntarily offer solutions that address competition concerns without having to go through lengthy legal procedures. It enables faster market corrections, saves regulatory resources and gives companies an opportunity to avoid adversarial proceedings.

Kaur expressed confidence that the workshop will serve as a platform to foster meaningful discussions, increase understanding and build synergies between regulators and industry participants. Competition law continues to act as a catalyst for innovation, economic growth and consumer welfare, she noted.