Ensuring observance of ‘fair trade practices’ is a continuing process and now entrusted to the Competition Commission of India established under the Competition Act, 2002. Giving this information in written reply to a question in the Rajya Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that the Commission has power to investigate and take remedial action in cases of anti-competitive agreements, abuse of dominant position, etc. which amount to unfair trade practices. The Commission takes action in case of violation of the above provisions.

KKP

(Release ID :95662)

Fair trade practices enforcement: Competition Commission empowered to investigate and remediate anti-competitive agreements and abuse of dominance. Enforcement of fair trade practices is entrusted to the Competition Commission, which possesses investigative authority and takes remedial measures where conduct amounts to anti-competitive agreements, abuse of a dominant position, or other unfair trade practices, covering detection, investigation and corrective action to address violations and restore competitive conditions.