8th BRICS International Competition Conference 2023

The 8th BRICS International Competition Conference 2023 (BRICS ICC 2023) concluded in New Delhi after three days of discussions and sessions. Hosted by the Competition Commission of India (CCI), the conference brought together over 600 delegates, including heads of BRICS competition authorities, practitioners, competition policy experts, and representatives of international organizations. The conference featured plenary sessions, breakout sessions, and discussions on various topics related to competition law and policy.

Key Points:

1. Conference Highlights: The BRICS ICC 2023 included three plenary sessions, four breakout sessions, an inaugural session, and a closing ceremony. It provided a platform for the exchange of views among competition authorities, practitioners, and experts from BRICS and non-BRICS nations.
2. BRICS Joint Documents: During a plenary session, joint documents, including leniency program and digital economy reports, were released and discussed. A Joint Statement was signed by the heads of BRICS competition authorities, emphasizing the importance of sharing information, experiences, and best practices.
3. Valedictory Address: In the closing ceremony, Dr. Manoj Govil, Secretary of the Union Ministry of Corporate Affairs, highlighted the unique legal traditions, economic structures, and regulatory approaches of each BRICS member state. He emphasized the collaborative efforts in competition law and policy to exchange best practices.
4. Digital Markets Challenge: Dr. Govil discussed the challenges of ensuring fair competition in digital markets, where network effects and data access can create barriers. He mentioned India’s efforts, including the examination of anti-competitive practices by big tech companies and the consideration of a Digital Competition Act.
5. Recent Amendments in India: Dr. Govil mentioned recent amendments to the Competition Act in India, introducing provisions for settlement and commitments. The amendments aim to provide companies with opportunities to resolve antitrust concerns cooperatively and implement deal value thresholds for merger notification.
6. Chairperson CCI’s Address: Chairperson of CCI, Smt Ravneet Kaur, emphasized the comprehensive understanding of challenges and opportunities discussed during the conference. She highlighted the importance of fostering cooperation and collaboration among BRICS countries.
7. Heads of BRICS Competition Authorities: The heads of BRICS competition authorities emphasized the need for focused and effective cooperation between BRICS countries in the field of competition law and policy.
8. Handover to South Africa: The event concluded with Shri Deepak Anurag, Member, Competition Commission of India, proposing the vote of thanks. CCI handed over the baton to South Africa for hosting the 9th BRICS International Competition Conference in 2025.

The conference provided a valuable platform for discussions on contemporary issues faced by competition agencies, emphasizing cooperation and collaboration among BRICS nations.