Competition Commission of India organizes 8th BRICS International Competition Conference in New Delhi

New Delhi: The 8th BRICS International Competition Conference began in New Delhi yesterday. The two-day conference organized by the Competition Commission of India (CCI) is based on the theme of New Issues in competition law and policy dimensions, Perspectives, and Challenges. Over 450 delegates from across the globe have joined the conference.

       

In his keynote address, Chairperson of National Company Law Appellate Tribunal, Justice Ashok Bhushan said that this conference is very important to foster cooperation among the BRICS competition authorities facilitating the exchange of ideas and approaches between leaders and experts in the field of competition law and policy. He said, since the inception of BRICS, it has played a pivotal role in integrating the efforts of members for mutual cooperation and exchanges of information on legislative development. 

He added that competition authorities have ensured that enforcement and competition advocacy momentum is maintained during the transforming global economic landscape. Justice Ashok Bhushan said, a robust mechanism must be brought out for regulating digital markets and international cooperation is necessary for that. The incorporation of sustainability into competition law has the potential to stimulate innovative development of cleaner



technologies. 

The government has taken several measures to achieve pro-competitive outcomes. 

Chairperson of the Competition Commission of India, Ravneet Kaur said, that under the Memorandum of Understanding between the BRICS Competition authorities, the working groups in automobiles, digital, food, and pharmaceutical industries have accomplished a deeper understanding of these markets. She said, CCI has made remarkable strides and has established itself as a credible, responsive, and dynamic regulator. 

She further added that CCI has conducted over 18 hundred competition advocacy initiatives and resolved more than 12 hundred anti-trust cases. She said that the Union government has recently amended the Competition Act 2002 which has enriched the toolkit. Digital technology has been a force multiplier in achieving growth and inclusion. Collective capacity building is important in the field of artificial intelligence, blockchains, and algorithms as the digital transition progresses.

   

The conference is hosted biennially by the BRICS competition authorities to provide a platform for promoting cooperation, experience sharing and mutual learning amongst the competition authorities of BRICS countries.