SIMA Raises Awareness In Textile Sector On ‘Competition Law’
SIMA conducted an awareness programme titled ‘Competition in Textile Market’ to enable textile manufacturers to understand the scope of the Competition Law to sustain competitiveness and achieve sustained growth.
V. Sriraj, Joint Director (Law), Southern Regional Office, CCI addressed the participants on the role played by CCI at the awareness seminar, which was attended by around 50 participants mainly from Coimbatore, Tiruppur, Erode, Namakkal, etc.
The programme highlighted advocacy initiatives of Competition Commission of India (CCI) and educate textile industrialists, while highlight scenarios where CCI can interfere to ensure fair trade practices towards level playing business eco system.
V.Sriraj explained the role of CCI as a body to eliminate unfair trade practices falling within the ambit of competition law, ease compliances, prioritize issues, with an objective of ensuring maximum governance and minimum government.
He highlighted various commercial aspects of the business regarding anti-competitive agreement, abusive of dominance, mergers & acquisitions, bid rigging and stated that CCI would strive for the benefit both the consumers and the sellers.
He stated that the Competition Act 2002 proscribes and penalises abusive and unfair conduct by dominant players, who have unparalleled bargaining power and position to dictate terms to other stakeholders.
He said that CCI would intervene if cartels are formed by manufacturers, specifically when they harm the consumers through pricing practices. He also said that CCI would regulate business combinations that are intended to increase profits unfairly.
