New Delhi, May 20 (HS): The head of the Competition Commission of India (CCI), Ravneet Kaur, stated on Tuesday that the new criteria for production costs will help in making more precise and objective evaluations. It will be much easier to determine the outcomes of its implementation.

Ravneet Kaur made this remark during her welcome address at the CCI’s 16th annual day celebration held at Bharat Mandapam in the national capital, New Delhi. The CCI chairperson mentioned that the digital market is undergoing rapid changes. The benefits of taking the first steps manifest very quickly. There is a need to maintain balance in observing such behavior, where the approach is based on evidence-based, proportional, and rigorous economic analysis.

In her address, the CCI chairperson reflected on the CCI’s 16-year journey and informed about recent developments in the competition enforcement system in India. Ravneet Kaur said, We have the potential for algorithmic decision-making and for those taking the first steps to prioritize themselves. Kaur emphasized the importance of having a coherent approach to cost determination, especially regarding predatory pricing and substantial discounts in digital markets and platforms.

Earlier, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman inaugurated the Indian Competition Commission’s 16th annual day ceremony by lighting a lamp at Bharat Mandapam in New Delhi. The CCI is a statutory body responsible for promoting competition and preventing anti-competitive activities in India. It operates under the Ministry of Corporate Affairs.

Hindusthan Samachar / Jun Sarkar