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Achieving level playing field central for long-term growth:

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Press Trust of India Hyderabad
: Competition Commission of India (CCI) Chairman Ashok Kumar Gupta Monday said that for achieving long-term growth trajectory, achieving level playing field, characterised by healthy competition is central.
Addressing a conference organised as part of the Roadshow on Competition Law here by the Competition Commission of India with a thematic focus on Public Procurement, Trade Associations, Cartels and Leniency, he said all stakeholders stand to gain from a healthy market competition, according to an official release.
He said the evolving regime of cartel mitigation will bear significant fruits in times to come.
He also mentioned that the recently launched online guidance system of CCI is helping the industry in determining the notifiability of mergers and acquisitions.
Touching upon recent developments in online markets, the CCI Chairman stated that the Commission intends to study the e-commerce sector in India to understand the role of algorithms and artificial intelligence in collusion, it said.
He underscored that competition has been the single most important agent of the transformation, India has undergone, in the post-reforms period.
He mentioned that the Competition Act 2002 casts upon the Commission a duty to eliminate anti-competitive practices and promote competition in the country.
In the last nine years, since CCI got its enforcement power, the CCI has so far received a total of 644 combination filings, reviewed 1,001 anti-trust cases and conducted more than 650 advocacy events, he added.
Outlining the Commission's priorities, Gupta said it was busting cartels.
He further said approximately 100 leniency applications have been so far submitted to CCI to avail lesser penalty benefits.
Governor of Andhra Pradesh and Telangana ESL Narasimhan, in his inaugural address said with decreasing role of state in non-sovereign functions, market's role in achieving optimal public welfare is pivotal.
He also released Competition Advocacy Booklet in Telugu.
Narasimhan further said erosion of moral values and integrity have emerged as root causes of multiple problems including anti-competitive conducts such as cartels.
Telangana Chief Secretary Shailendra Kumar Joshi lauded the CCI's initiative to reach out to states to generate awareness about competition law and its impact on economic policy.
He said deliberations on public procurement and competition law will help in mitigating the loss of public money on account of anti-competitive practices.
Trade and industry which are major actors in the state economy stand to gain immensely by complying with the competition law, Joshi added.

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First Published: Feb 25 2019 | 9:46 PM IST

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