Q. In the context of the Competition Commission of India (CCI), Consider the following:
- It is an executive body that serves as India's principal competition regulator.
- It functions under the Ministry of Corporate Affairs with its headquarters in New Delhi.
- Replacing the outdated MRTP Act of 1969, the CCI modernizes India’s competition laws per the Raghavan Committee’s recommendations.
Which of the above is/are related to regulatory practices in digital markets?
Answer:
Only 2 & 3
Notes:
- It is an executive body that serves as India's principal competition regulator. Incorrect: The Competition Commission of India (CCI), constituted under the Competition Act, of 2002 serves as India's principal competition regulator.
- It functions under the Ministry of Corporate Affairs with its headquarters in New Delhi. Correct: It was officially formed on October 14, 2003, and operational since May 2009, the CCI functions as a statutory body under the Ministry of Corporate Affairs with its headquarters in New Delhi.
- Replacing the outdated MRTP Act of 1969, the CCI modernizes India’s competition laws per the Raghavan Committee’s recommendations. Correct: Replacing the outdated MRTP Act of 1969, the CCI aligns India’s competition laws with global standards, following recommendations from the Raghavan Committee.