OREANDA-NEWS. September 03, 2009. The meeting between the Head of the Federal Antimonopoly Service Mr. Igor Artemiev and the delegation of the Competition Commission of India represented by the Chairman of the Competition Commission of India Mr. Dhanendra Kumar and the Additional Director General Mr. Manoj Pandey took place during the BRIC International Competition Conference, reported the press-centre of FAS Russia.

Mr. Igor Artemiev expressed his gratitude to Indian delegation and personally Mr. Kumar for assistance in organization of the BRIC International Competition Conference.

During the meeting the Parties marked that the BRIC International Competition Conference will favor extend of cooperation in the field of competition policy within the BRIC format for assistance in development of trade relations and creation of normal competitive conditions for the national economic operators.

According to the results of the meeting the Parties expressed their hope for future development of fruitful and mutually beneficial cooperation in the field of competition policy.

Reference.
A new Competition Law was enacted on 14 January, 2003. This law canceled the Act “On monopolies and restrictive measures in trade”.

This act determines concrete directions of activity of the Indian competition authority and is a legal basis for their implementation.

Provisions of the Law are valid on the whole territory of India except the States of Jammu and Kashmir. The Law is applied to all goods and services including import. The Law determines the basic concepts such as “organization”, “consumer” and “cartel”.

At the moment the Competition Commission of India is responsible for the Competition Law implementation. The Competition Commission of India was established by the Decree of the Central Government of India on 14 October 2003.

The central office of the Commission is situated in New-Deli. The body has the powers not limited in time. The Commission is empowered to establish offices in other regions of India.
The Commission consists of a Chairperson and from two to six members which are appointed by the Government.

The main responsibilities of the Commission are:

- market research, including interaction with independent experts,

- establishment of dominant position in the markets,

- control over deals on incorporation of companies and commercial organizations (mergers,

extension, acquisition of control, transactions with shares, votes and assets).