The Competition Commission of India (CCI) plays a lead role in protecting the interest of all the players in the industrial sector, ensuring that no unfair trade practices are adopted by any player in the market thereby creating a level playing field. To promote a free enterprise system, various regulatory activities are being undertaken by CCI. To enable the textile manufacturers to understand the scope of the Competition Law to sustain the competitiveness and achieve sustained growth, SIMA conducted an awareness programme titled “Competition in Textile Market” on 12th February 2024 at its premises.
In a Press Release issued here today, Dr.S.K.Sundararaman, Chairman, The Southern India Mills’ Association has informed that Mr. V. Sriraj, Joint Director (Law), Southern Regional Office, Competition Commission of India (CCI), Chennai has addressed the participants on the role played by the Competition Commission of India. In his address, Mr.V.Sriraj explained the role of CCI as an expert body to eliminate unfair trade practices falling within the ambit of Competition Law, ease compliances, prioritize issues, with an objective of ensuring maximum governance and minimum government. He highlighted various commercial aspects of the business regarding anti-competitive agreement, abusive of dominance, mergers & acquisitions, bid rigging and stated that CCI would strive for the benefit both the consumers and the sellers.
Mr. Sriraj stated that the Competition Act 2002 proscribes and penalizes abusive and unfair conduct by dominant players, who have unparalleled bargaining power and position to dictate terms to other stakeholders. He has said that the Competition Commission of India (CCI) would intervene if cartels are formed by manufacturers, specifically when they harm the consumers through pricing practices. He also said that CCI would regulate business combinations that are intended to increase profits unfairly.
The awareness programme was attended by around 50 participants mainly from Coimbatore, Tiruppur, Erode, Namakkal, etc. The advocacy endeavour of CCI to educate the textile industrialists and highlight the scenarios where CCI can interfere to ensure fair trade practices towards level playing business eco system.
