• UGI USER
  • May 21, 2024
  • 11 Likes
  • 0 Comments

CCI CHAIRPERSON RAVNEET KAUR ADVOCATES INNOVATIVE TOOLS FOR DIGITAL MARKETS

Why in the news?

  • Ravneet Kaur, Competition Commission of India(CCI) Chairperson, urges regulatory adaptability for digital market competition.
  • Emphasizes the need for innovative analytical tools suited to the digital landscape.
  • Aims to tackle challenges like “algorithmic collusion”.

Key Points about “algorithmic collusion”:

  • Algorithmic collusion involves using algorithms or computer programs to manipulate market behavior.
  • It benefits specific participants while harming others.
  • This practice can occur in financial markets, among others.
source:ilearncana
What is the Competition Commission of India(CCI)?

  • Establishment: Founded in March 2009 under the Competition Act, 2002.
  • Goal: To ensure fair competition, a level playing field for producers, and consumer welfare.
  • Mandate: Enforce provisions of the Competition Act, 2002, regulating anti-competitive agreements, abuse of dominant position, and mergers and acquisitions.
  • Composition: One chairperson and six additional members appointed by the Central Government.
  • Headquarters: Located in New Delhi.

Associated Article:

https://universalinstitutions.com/in-order-to-control-competition-in-the-indian-market-discuss-the-function-and-authority-of-the-competition-commission-of-india-cci-how-successful-has-the-cci-been-in-encouraging-fair-competition-a/