With a view to empowering MSMEs to take advantage of the competition laws in India, the Federation of Indian Micro, Small and Medium Enterprises (FISME) and Hindustan Unilever Limited have jointly initiated a nationwide campaign to create awareness about the rights and responsibilities of small businesses under the Competition Act, according to a newsletter issued by Knowledge & News Network (KNN), a media platform for MSMEs.
FISME recently organised two sessions on competition law and compliance in Bangalore, covering topics such as unfair trade practices, cartelisation and monopolies.
The first session was held with the Association of Women Entrepreneurs of Karnataka (AWAKE), and the second was held with the Federation of Karnataka Chamber of Chambers of Commerce and Industries (FKCCI).
Mukesh Kalra, a FISME official, who represented the federation at the sessions, said the initiative had been undertaken because awareness of competition laws was essential if MSMEs were to protect their rights.
A session on competition law and compliance was also recently held in Gurgaon, and saw the participation of 47 individuals from the MSME sector.
There are several provisions in the Competition Act, under which any firm can seek redress of its grievances against a large company which takes disadvantage of its monopolistic or pre-dominant position in the marketplace through measures like collusion and predatory pricing.
Redress can be sought from the Competition Commission of India, quasi-judicial body formed under the Competition Act.
Source: Knowledge and News Network
