CCI to meet CEOs of top 100 companies on Jan 24
The Competition Commission will meet CEOs of India's 100 most valued companies on January 24, as part of efforts to sensitise big corporates about fair trade practices and competition compliance norms.
New Delhi: The Competition Commission will meet CEOs of India's 100 most valued companies on January 24, as part of efforts to sensitise big corporates about fair trade practices and competition compliance norms.
The meeting comes against the backdrop of rising instances of complaints about companies abusing their dominant market positions or entering into anti-competitive pacts.
"CEOs will be able to ensure that big companies which could be, or which have the potential to be dominant players in their sectors and segments because of their size are fully sensitised to the Competition Act," Competition Commission of India (CCI) Chairman Ashok Chawla told PTI.
The CCI chief said a meeting with CEOs would be held on January 24, wherein they would be communicated the concerns about compliance to competition laws by large companies.
"Information, once it flows from the top, they can internalise the processes and procedures and can probably ask their boards to review, as they review various compliances, even this compliance on a periodic basis," Chawla said.
CEOs from country's top 100 companies, in terms of their market capitalisation on the BSE, would be invited for the meeting.
"We have just taken the 100 biggest by way of market capitalisation, which includes about 25 public sector companies," Chawla said.
CCI, which keeps a tab on anti-competitive practices in the market, has already met representatives from about 20 trade associations.
During deliberations with them on December 17, the fair trade regulator emphasised on the need for better awareness about competition rules and their benefits for the overall economy.