Lecture Series on Enhancing Understanding of Competition Laws

Business MInutes

The Department of Law at the Central University of Tamil Nadu organized a lecture series aimed at fostering a broader knowledge of Competition Laws in India and enhancing the understanding of its evolution and importance in the competitive market. The event, held on 07 July 2023, saw the participation of more than 300 students.

The lecture series was inaugurated by the esteemed Vice Chancellor of the University Prof. M. Krishnan, who felicitated Mr. KP Anand, Joint Director (Law) at the Competition Commission of India (CCI). In his address, Mr. KP Anand emphasized the need to understand competition law and highlighted its numerous benefits. He outlined how competition law leads to increased availability of affordable, higher-quality products, reduces corruption and lobbying, promotes accountability and transparency, and fosters entrepreneurship and choice.

During his lecture, Mr. Anand provided detailed insights into anti-competitive agreements, particularly focusing on cartels, and explained their detrimental impact on consumer welfare, economic efficiency, fair trade, and market dominance. He also discussed the three main areas of enforcement covered by competition laws, which include anti-competitive agreements including cartels, abuse of dominance, and mergers with potential anti-competitive effects.

Mr. Anand further delved into an explanation of the Competition Act 2022, highlighting its objectives, including the establishment of the Competition Commission of India (CCI) to prevent anti-competitive behavior, sustain market competition, protect consumer interests, and ensure freedom of trade. He emphasized the role of the CCI's advocacy division in effectively engaging with stakeholders. Additionally, he spoke about how the Competition Act of 2002 was a response to evolving economic conditions and aligned with the new economic paradigms of globalization, privatization, and liberalization. The Act reflected the country's commitment to transitioning from a controlled economy to a free-market economy while maintaining appropriate safeguards and controls.

The lecture series commenced with a welcome address by Dr. Sangeetha Sriraam, Assistant Professor, Department of Law, and a felicitation address by Dr. Velmurugan P S, Dean (School of Legal Studies).

The event proved to be an enlightening experience for the students, providing them with valuable insights into competition laws and their significance in the modern business landscape.


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