Union Finance Minister Nirmala Sitharaman Chairs 16th Annual Day Celebration of CCI in New Delhi.
National
On 20th May 2025, Union Minister Nirmala Sitharaman, who heads both the Ministry of Finance (MoF) and the Ministry of Corporate Affairs (MCA), presided over the 16th Annual Day celebration of the Competition Commission of India (CCI) in New Delhi.
- The event celebrated CCI’s contributions toward building a competitive and inclusive economic environment, aligning with India’s vision for Viksit Bharat 2047.
- Nirmala Sitharaman emphasized CCI's critical role in ensuring a "light-touch regulatory framework." She noted that this approach allows for a balance between strict enforcement and the encouragement of pro-growth policies, thereby maximizing benefits for businesses and consumers alike.
- The Union Minister highlighted the importance of global cooperation in regulating emerging sectors such as Artificial Intelligence (AI) and digital markets. She underlined the necessity for India to remain agile and adaptable in its regulatory approaches in these fast-evolving domains.
Main Point :- (i) During the celebration, it was revealed that the CCI has undertaken a Market Study on AI and Competition and has established a Digital Markets Division. These initiatives aim to analyze and address tech-driven market disruptions and ensure fair practices in digital ecosystems.
(ii) During the event, Nirmala Sitharaman launched two key documents: the “Diagnostic Toolkit Towards Competitive Tenders for Public Procurement” to prevent bid rigging, and the “FAQs on Combinations” to clarify merger rules under amended Competition Act and 2024 regulations.
(ii) The Competition Commission of India (CCI), under the Ministry of Corporate Affairs, enforces the Competition Act, 2002, promoting fair markets, supporting MSMEs, and ensuring digital inclusion since becoming fully operational in 2009.
About CCI
Chairperson: Ravneet Kaur
Headquarters: New Delhi
____________________________
