The Union Cabinet chaired by Prime Minister Narendra Modi has approved the signing of the Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Competition Commission of Mauritius (CCM) for promotion and strengthening of co-operation in competition law and policy.
As per an official release, "The MoU aims to promote and strengthen cooperation in matters of competition law and policy through exchange of information, sharing of best practices and capacity building initiatives. It is intended to promote mutual co-operation in the areas of technical co-operation, experience sharing and enforcement co-operation.
The outcomes would benefit consumers at large and promote equity and inclusiveness. The MoU between CCI and CCM is expected to Address anticompetitive restraints that affect international trade; Improve enforcement of the Competition Act, 2002 by CCI; Promote understanding of competition policy; Capacity building; Bring diplomatic benefits; Ministry of Corporate Affairs, Competition Commission of India on the Indian side and Competition Commission of Mauritius on the other side would be major beneficiaries in this Memorandum of Understanding.
Section 18 of the Competition Act, 2002 permits CCI to enter into any memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.
( With inputs from ANI )
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