Competition watchdog strikes a fine balance: Regulator & business facilitator

IT'S BEEN AN action-packed year for the competition watchdog, both in terms of the number of cases handled and the changes made in the current regulations aimed at strengthening the commission and creating a conducive environment for businesses.

- MANU KAUSHIK

In March, the Competition Commission of India (CCI) introduced two much-needed tools—commitment and settlement—to reduce litigation and facilitate faster market corrections. Simultaneously, the commission launched the leniency-plus facility, designed to improve its cartel-detection mechanism.

According to experts, these tools, along with other amendments to competition laws, are set to make the enforcement procedures more smooth. "Amendments to general regulations, lesser penalty regulations, recovery of monetary penalty and combination regulations over the past year provide clarity and certainty for both enforcers and stakeholders," said KK Sharma, a competition lawyer.