The Competition Commission of India organized the first National Conference on Economics of Competition Law at the Gulmohar, India Habitat Center, New Delhi. The Conference was inaugurated by Shri Jayant Sinha, Hon’ble Minister of State, Ministry of Finance, Government of India. Shri Tapan Ray, Secretary, Ministry of Corporate Affairs, Government of India also graced the occasion.
In his Inaugural Address, Shri Jayant Sinha, Hon’ble Minister of State, Ministry of Finance, Government of India stated that the government is pursuing a pro-poor economic policy, in which the importance of well-functioning markets cannot be over-emphasised. He pointed out that the role of market and its importance to achieve the pro-poor objectives of the government deserves better appreciation. He urged the CCI to emulate global best practices for the enforcement of competition law. He stressed the need for India to grab the opportunity of becoming a leader in competition law enforcement among the younger jurisdictions. In this context, he stated that it was incumbent upon the CCI to build a community of experts including academia, consultants, legal practitioners and professionals within the CCI.
Shri Tapan Ray, Secretary, Ministry of Corporate Affairs, applauded CCI for its commendable work. He stressed CCI’s crucial role in ensuring level playing field in the context of ease of doing business, which the present government has been pursuing as a mission.
Shri Devender Kumar Sikri, Chairperson, Competition Commission of India, in his introductory remarks observed that the implementation of competition law needs to be judicious. He highlighted the need for a meaningful dialogue between law and economics so that the legal principles and economic perspectives are harmonised towards efficient, precise and prudent decision-making.
The welcome address was delivered by Shri Augustine Peter, Member, CCI. He highlighted the fact that the focus on present day competition assessment is on the use of more economics – economic evidence, quality availability of data etc. in competition law enforcement.