The Competition Commission of India (CCI) is the primary regulatory body in India responsible for promoting and sustaining competition in the market, preventing anti-competitive practices, and ensuring consumer welfare. The CCI is established under the Competition Act, of 2002, and its functions are enshrined in the Act. The key role and functions of the CCI are:

Promoting Competition: The CCI encourages competition in markets by identifying and addressing barriers to entry, monopolies, and other restrictive business practices that can hinder competition.
Preventing Anti-Competitive Practices: The CCI monitors and prevents anti-competitive practices such as cartels, price-fixing, bid-rigging, and other restrictive agreements that can harm competition.
Enforcing Competition Laws: The CCI enforces the provisions of the Competition Act, of 2002, and investigates complaints against companies for anti-competitive practices.
Ordering Cease and Desist: The CCI can issue orders to cease from anti-competitive practices, which requires companies to modify their behavior to comply with competition laws.
Imposing Fines and Penalties: The CCI can impose fines and penalties on companies found guilty of anti-competitive practices.
Licensing: The CCI issues licenses to businesses operating in certain sectors, such as telecommunications, broadcasting, and pharmaceuticals, to ensure compliance with competition laws.
Mergers and Acquisitions: The CCI reviews and approves or rejects mergers and acquisitions that may affect competition in the market.
Consumer Welfare: The CCI ensures that consumer welfare is protected by promoting competitive markets that provide consumers with a wide range of choices at competitive prices.
Monitoring Industry Developments: The CCI monitors industry developments to identify potential competition issues and takes measures to prevent anti-competitive practices.
Providing Guidance: The CCI guides businesses on compliance with competition laws through guidelines, circulars, and advisory opinions.
Investigating Complaints: The CCI investigates complaints received from consumers, competitors, or other stakeholders regarding anti-competitive practices.
Collecting Information: The CCI collects information from companies to monitor their compliance with competition laws and to investigate alleged anti-competitive practices.
To achieve its objectives, the CCI uses various tools and techniques, including:

Conducting market investigations
Issuing show-cause notices
Holding hearings
Conducting surveys and public consultations
Analyzing data and research reports
The CCI’s efforts have contributed significantly to promoting competition in India’s markets, which has led to:

Increased consumer choice
Improved product quality
Lower prices
Increased innovation
Job creation
However, the CCI faces challenges in enforcing competition laws in India, including:

Limited resources
Complex legal frameworks
Limited public awareness about competition laws
Resistance from industry players
To overcome these challenges, the CCI needs sustained support from the government, industry stakeholders, and consumers to promote a competitive business environment that benefits all stakeholders.