Ahead of the 8th BRICS International Competition Conference (ICC) to be held in New Delhi on October 11-13, Competition Commission of India (CCI) Chairperson Ravneet Kaur delivered a keynote address.
In her article on CNBCTV18, Ravneet Kaur notes that in today's world, the principles of fair competition in markets and cooperation amongst competition authorities serve as an instrument for economic growth and innovation. The 8th BRICS International Competition Conference (ICC), to be hosted by the Competition Commission of India (CCI) at New Delhi during October 11–13, offers a platform to discuss, analyse, and address significant competition-related issues and fosters collaboration among the BRICS nations to ensure that markets remain open, competitive, and innovative.
“The Conference will allow the BRICS partner countries to share their insights, learn from each other and work together to devise regulatory tools that facilitate the same. The collaborative spirit of the BRICS nations is a powerful force that can help in shaping global economic trends and fostering innovation,”
says Ravneet Kaur in the article.
Amidst rapidly evolving global markets and technological advancements, fresh challenges and dimensions in competition law and policy have emerged. These encompass a range of issues such as new age markets, global mergers and climate change, all of which necessitate a renewed perspective on competition policy. The Conference aims to unravel these complex issues. This mutual effort will play a crucial role in addressing these modern challenges of competition law and policy, ensuring that markets remain fair, contestable, and conducive to sustained economic growth, the CCI Chairperson is convinced.
The BRICS competition authorities have continually worked to create effective procedures and frameworks. Under the auspices of Memorandum of Understanding (MoU) between the BRICS competition authorities, working groups in the automobile, digital, food and pharmaceutical industries have accomplished a deeper understanding of these markets and competition policy response to the same. The BRICS joint documents on the leniency programme and the Digital Economy report would be released and discussed during the conference and will further this endeavour.
The Conference will also explore new issues in competition law and policy in the BRICS countries and adoption of soft law tools to create a pro-competitive environment in the markets. It will focus on critical areas such as competition analysis in the digital economy, sustainability and the role of market studies in identifying emerging competition issues and challenges in merger control from an international perspective.
Towards the Conference's conclusion, the heads of BRICS competition authorities will sign a joint declaration, reaffirming their united vision and collaborative spirit.
“With the increasing cross-border dimension of our work, international cooperation is vital and this forum gives us an opportunity to develop meaningful collaborations and learn from each other. We hope to make the most of it,“
writes the CCI Chairperson.
The BRICS International Competition Conference (ICC) is held every two years. The first Conference was hosted in September, 2009, in Kazan, Russia, by the Federal Antimonopoly Service of Russia. Subsequently, the conferences were organized by China in 2011, India in 2013, South Africa in 2015 and Brazil in 2017.
In 2019, BRICS ICC was again hosted by Russia, followed by China in 2021. The 8th BRICS ICC 2023 is now set to be hosted by India and its theme —“New Issues in Competition Law and Policy – Dimensions. Perspectives. Challenges” resonates with the current global context.
Source: CNBCTV18
