New Delhi, May 20 (HS): Union Finance and Corporate Affairs Minister Nirmala Sitharaman said on Tuesday that there should be a correct balance between regulation and freedom to maintain fair competition. Sitharaman urged regulators to anticipate changes in the market and remain relevant.

Sitharaman made this statement while addressing an event held in the national capital, New Delhi, on the occasion of the 16th annual day of the Competition Commission of India (CCI). She stated that the regulatory framework should facilitate quick approvals for mergers that do not harm competitive practices. She also emphasized the role of CCI in forecasting market changes and promoting fair practices.

As the Minister of Corporate Affairs, Sitharaman highlighted the crucial role of CCI in adapting to market changes. She mentioned that regulations should ensure rapid approvals where there is no threat to competition. A toolkit for procurement officials was also released during this event. CCI Chairperson Ravneet Kaur was also present on this occasion.

Addressing attendees at the 16th annual day ceremony of CCI, the Finance Minister underscored the importance of fair competition, stating that there should be a correct balance between regulation and freedom. A new diagnostic toolkit for public procurement officials and an FAQ on dealing with combinations were released during this event, confirming the need for accountable and effective competition regulation.

—————

Hindusthan Samachar / Jun Sarkar