The 8th BRICS International Competition Conference 2023, hosted by the Competition Commission of India (CCI) from October 11-13, has concluded in New Delhi. More than 600 delegates, including heads of BRICS competition authorities, practitioners, competition policy experts, and stakeholders from BRICS and non-BRICS nations, attended the conference.
The conference featured plenary and breakout sessions where joint documents, the Leniency Programme, and Digital Economy Reports were discussed.
BRICS joint statement
Heads of BRICS competition authorities signed a Joint Statement emphasising the importance of sharing information and best practices to strengthen enforcement capabilities.
In the closing ceremony, the Secretary of the Union Ministry of Corporate Affairs, Dr Manoj Govil, highlighted the challenges of ensuring fair competition in digital markets.
He mentioned the Standing Committee’s examination of ‘Anti-Competitive Practices by Big Tech Companies’ and the potential introduction of a Digital Competition Act in India.
Dr. Govil also discussed recent Competition Act amendments, including settlement and commitment provisions. He stressed the importance of deal value thresholds for merger notification.
Chairperson CCI, Smt Ravneet Kaur, emphasised the significance of the conference in understanding challenges and opportunities for competition authorities. She highlighted the role of competition policy in nurturing innovation and its contribution to economic growth.
She mentioned the Joint Statement signed by BRICS competition authorities, emphasizing strategic alignment towards fostering competition-driven growth.
The heads of BRICS competition authorities echoed the need for cooperation in today’s globalised world. The event concluded with the announcement that South Africa will host the 9th BRICS International Competition Conference in 2025.
ALSO READ: 8th BRICS International Competition Conference underway in New Delhi
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