New Delhi : Union Minister of Finance & Corporate Affairs Nirmala Sitharaman presided over the 16th Annual Day commemoration of the Competition Commission of India (CCI), at New Delhi.
the Union Finance Minister said that the CCI has emerged as a key institution in safeguarding the spirit of liberalisation. Markets must work for the many, not the few, she said. The CCI’s interventions, through enforcement, advocacy, market studies and regulatory reforms, play a significant role in facilitating an environment where enterprises, big and small, can compete on merit, where consumers are empowered with choices, and where innovation and efficiency are rewarded, Sitharaman added.
Referring to India’s aspiration of Viksit Bharat 2047, the Union Finance Minister emphasised that the ability of the CCI to strike a balance between regulatory vigilance and a pro-growth mindset will be integral to building a resilient, equitable, and innovation-driven economic framework. In an export-environment-energy-and-emissions challenged world, the increased reliance on domestic growth levers requires ensuring the right balance of regulation and freedom.
Lauding the CCI’s regulatory approach, Sitharaman said that the CCI has upheld the sanctity of the law through firm and decisive enforcement actions against anti-competitive practices while showing equal commitment to enabling legitimate business conduct. This has contributed significantly to inclusive market development and building investor confidence in India’s regulatory framework.
Speaking on the emerging challenges facing the CCI, the Union Finance Minister emphasised on the need for global cooperation and agile regulation. The recently initiated market study by the CCI on Artificial Intelligence and Competition is a timely and strategic initiative, she said. The establishment of the ‘Digital Markets Division’ is also a timely move, which is expected to become a centre of excellence in understanding technology markets, forging inter-regulatory partnerships, and engaging in global discourse.
As India integrates further with global value chains and digital ecosystems, maintaining open and contestable markets will be crucial to India’s competitiveness, the Union Minister said. CCI, through its unique mandate and cross-sectoral role, will be a key enabler in this journey – whether it is facilitating market access for MSMEs, addressing barriers that impede fair competition, promoting digital inclusion, or ensuring that consumers benefit from better choices, lower prices, and improved quality, Sitharaman observed.