The Competition Commission of India (CCI) plays a lead role in protecting the interest of all the players in the industrial sector, ensuring that no unfair trade practices are adopted by any player in the market there by creating a level playing field. To promote a free enterprise system, various regulatory activities are being undertaken by CCI. To enable the textile manufacturers to understand the scope of the Competition Law to sustain the competitiveness and achieve sustained growth, SIMA conducted an awareness programme titled “Competition in Textile Market” on 12th February 2024 at its premises.
Sriraj stated that the Competition Act 2002 proscribes and penalizes abusive and unfair conduct by dominant players, who have unparalleled bargaining power and position to dictate terms to other stakeholders. He has said that the Competition Commission of India (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.
