CCI will focus on strengthening enforcement, enhancing collaborations and leveraging technology to ensure fair competition in the country, its chief Ravneet Kaur says.

The Competition Commission of India (CCI), which has the mandate to foster fair competition and curb anti-competitive practices, has been working on understanding the dynamic interplay between traditional market practices and the rapidly evolving digital economy.

"There is an imperative need for a nimble, proactive regulatory approach that adapts to emerging market challenges, particularly in sectors driven by technology and innovation," says Ravneet.

In 2023, the Competition Act underwent several revisions, which resulted in the establishment of new mechanisms, such as thresholds for settlement, commitment, and deal value.

The CCI Chairperson emphasized that the endeavor is to strike a balance between effective oversight and a simplified, market-friendly regulatory regime.

"Going forward, our focus will be on strengthening enforcement, enhancing collaborations, and leveraging technology to uphold fair competition in India," adds Ravneet.

The watchdog intends to engage additional domain specialists to assist in evaluating competition in the face of swift changes in the technology world, among other measures to strengthen its skills.

"Recruitment of domain experts in areas like AI, data analytics, and digital markets is a priority. This will ensure that CCI remains future-ready and well-equipped to address challenges posed by rapidly evolving technologies," Ravneet says.

The regulator is now working on two market studies on competition issues in the BRICS countries' artificial intelligence and renewable energy sectors.