Sitharaman inaugurates Competition Commission of India’s regional office in Chennai

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman virtually inaugurated the Competition Commission of India’s (CCI) regional office (South) in Chennai.

Daily Current Affairs Quiz 2021

Competition Commission of India is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002 and promoting competition throughout India and to prevent activities that have an appreciable adverse effect on competition in India.

It was established on 14 October 2003. It became fully functional in May 2009 with Dhanendra Kumar as its first Chairman.

The idea of Competition Commission was conceived and introduced in the form of The Competition Act, 2002 by the Vajpayee government. A need was felt to promote competition and private enterprise especially in the light of 1991 Indian economic liberalisation.