FM Nirmala Sitharaman while addressing at the virtual inauguration of the CCI office for the Western Region in Mumbai asked CCI to have proactive approach instead of waiting for people to reach them with complaints
Finance minister (FM) Nirmala Sitharaman urged the Competition Commission of India (CCI) to “fairly and squarely” address issues rising due to corporate mergers involving cross-border elements on 6 October.
Minister while addressing at the virtual inauguration of the CCI office for the Western Region in Mumbai also asked CCI to have proactive approach instead of waiting for people to reach them with complaints.
“Aspiring be a digital economy, it is also very important for us to address the challenges that digitisation brings, we cannot ignore them,” said Sitharaman.
“Considering the multi-national nature of activities, various companies are looking to have interlocking positions in global value chains. There are holding companies, new acquisitions taking place, there are mergers and such related events happening across the globe, ” she further added.
The finance minister’s delivers her thoughts at a time when a parliamentary panel is in the process of examining the new competition bill. The bill empowers CCI to regulate cross-border mergers and digital companies. It was presented in the parliament during the Monsoon session.