The Raghavan Committee was appointed in 1999 by the Government of India to study the need for a competition law and policy framework in India. The committee submitted its report to the government in 2000, which formed the basis for the establishment of the Competition Commission of India (CCI) in 2003.
|To study the need for a competition law
|Led to the establishment of Competition Commission of India (CCI)
The Raghavan Committee report highlighted the need for a competition law and policy framework in India, to promote competition and protect consumer welfare. The committee noted that competition was essential for economic growth and innovation, and that the absence of a competition law in India had led to the dominance of a few large players in many sectors.
One of the key recommendations of the Raghavan Committee report was the establishment of an independent regulator, the Competition Commission of India (CCI), to promote and regulate competition in the Indian market. The committee recommended that the CCI should have wide-ranging powers to investigate and penalize anti-competitive practices, such as cartels and abuse of dominant positions.
The committee also recommended that the CCI should be supported by a comprehensive legal framework, including provisions for the review of mergers and acquisitions, and the regulation of predatory pricing and other anti-competitive practices.
The establishment of the CCI was a major step towards promoting competition in India, and the commission has played an important role in regulating various sectors of the economy. The CCI has investigated and penalized several companies for anti-competitive practices, such as price fixing and abuse of dominant positions.
However, there have been criticisms of the CCI’s functioning, such as delays in investigations and lack of transparency in decision-making. The Raghavan Committee report had emphasized the need for the CCI to be independent and transparent, and for its decisions to be based on rigorous economic analysis.
Overall, the establishment of the CCI was a significant step towards promoting competition and protecting consumer welfare in India. The Raghavan Committee report provided the foundation for the development of competition law and policy in India, and the CCI has been instrumental in enforcing these laws and promoting a competitive market.