What are the prime objectives of Competitive Commission of India (CCI) ? A knowledge gap at CCI in existing digital markets decreases the ability of its regulatory functions. Do you agree with this view? Analyse (200 Words)
Refer - Business Standard
Enrich the answer from other sources, if the question demands.
IAS Parliament 6 years
Objectives of CCI
· Prevent policies and practices which have an adverse effect on constructive competition in the economy.
· Promote and help sustain healthy competition in the market.
· Look after the interest of the consumers.
· Create awareness and advocate for fair competition practices.
· And finally, ensure freedom of trade in the market.
Knowledge gap in CCI
· The principal reason is that the regulator has not concentrated on building up its internal capacity in digital markets is that it has traditionally packed with retired or about-to-retire bureaucrats who have have shown no or little specialised knowledge of the domain of the anti-competitive body.
· The present composition of three members includes only one economist, selected after a long gap. There has been nobody from finance or from any technology sector.
· In the absence of specialists, CCI has examined competition issues on the basis of legalese rather than as economic issues.
· It perceives competition as essentially freedom from government policies and laws that circumscribe markets, excluding the digital market where global markets belong to this category.
· CCI lacked to forsee the digital markets are a great arena for the spread of what is called network economics (the ability of firms in these spaces to connect consumers on platforms), where firms dominating the digital market excluding the competitors.
