Straight from the Specialists
(The views expressed in this column are the author’s own and do not represent those of Reuters)
The Ministry of Corporate Affairs has taken the initiative to bring all sectors of the economy under the purview of the Competition Commission of India (CCI), including those overseen by regulatory authorities.
Even before the Group of Ministers could consider this proposal, the Department of Telecommunications and the Department of Financial Services have sought exemptions, possibly threatened by the encroachment on their territory.
The presumption is that the regulator takes care of all issues and consequently no other agency can have a role. But CCI is not a regulatory body — it’s a watchdog. All it would ensure is that enterprises play the competition game by the rule and do not erect barriers that could jeopardise the interests of the consumer.