India Reduces Number Of Members At Competition Commission By Half
The Cabinet today approved a proposal to reduce the number of members to three instead of six.
The Cabinet today approved a proposal to “rightsize” the country’s antitrust regulator by reducing the number of members by half.
The Competition Commission of India will now have one chairperson and three members instead of six earlier, according to statement issued by the Press Information Bureau. Two posts at CCI are already vacant, while a third will be vacated in September 2018. These posts will not be filled, the statement added.
The decision will lead to faster turnaround at hearings, speedier approvals and stimulation of corporate business processes and is aimed at delivering on Prime Minister Narendra Modi’s promise of “minimum government, maximum governance”, the statement said.
However, former CCI Member SL Bunker said the decision fails to “properly appreciate” the nature and functioning of the antitrust regulator. The CCI deals with competition laws and economic laws and decisions need to be made based on data and market situations, he said. “Long-term issues have to be seen in totality and only then a decision has to be taken. More members makes it more resilient and gives it a strong outcome.”
Bunker ruled out the possibility that fewer members will help the CCI comes to a consensus sooner.
Whether it a large number or a smaller number, the same process will have to be gone through. So the time taken for decision-making will remain the same.SL Bunker, Former Member, CCI
The CCI is a statutory government body that was established to enforce the Competition Act of 2002. Its aim is to ensure fair competition and a level-playing field for all players in the market.
Watch the full interview with SL Bunker here.