CCI was established in the year 2003 and got its enforcement and regulatory powers after the substantive provisions of the Competition Act relating to anti-trust enforcement and regulation of combinations came into force on May 20, 2009 and June 1, 2011, respectively. Further, the Competition Act, 2002 as amended through Competition (Amendment) Act, 2023 inter-alia broadens the scope of anti-competitive agreements, provides for notification of combinations based on value of transactions, reduces the time limit for approval of combinations, and introduces settlement and commitment framework.
The Competition Act, 2002, provides for setting up of the CCI comprising Chairperson and a minimum of two and maximum of six Members.
The present composition of the Commission is as under:
The Competition Act, 2002, as amended from time to time follows the philosophy of modern competition laws. Objectives of CCI as enshrined in the Competition Act are:
(i) Preventing practices having adverse effect on competition,
(ii) Promoting and sustaining competition in markets,
(iii) Protecting the interest of consumers and
(iv) Ensuring freedom of trade carried on by other participants in markets in India.
The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India and mandates competition advocacy.
The erstwhile National Anti-Profiteering Authority (NAA) was initially constituted on 28th November, 2017 under section ‘7’ (2) of central Goods and Service Tax (GST) Act, 2017. In 45th GST council meeting it was decided to explore possibility of transferring all cases to Competition Commission of India (CCI).
The Ministry of Finance vide Notification No. 23/2022-C.T. dated 23.11.2022 in exercise of the powers conferred by sub-section (2) of Section 171 of the Central Good and Service Act, 2017 empowered the Competition Commission of India, established under Section 7(1) of the Competition Act, 2002 to examine whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him. Aforementioned notification came into force with effect from 1st day of December, 2022.
Since its inception, CCI has strived to instil the values of competition in Indian markets through credible antitrust enforcement, robust merger control regime and regular engagement with stakeholders. As a responsive and responsible regulator, CCI has constantly reviewed its procedures to simplify processes, besides taking steps for speedy disposal and lessening compliance.