Financial Daily from THE HINDU group of publications
Thursday, Oct 07, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 07, 2004 |
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Marketing
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Trends Competition panel moots setting up of regional bodies Our Bureau
Hyderabad , Oct. 6 THE Competition Commission of India has mooted the idea of setting up regional associations of competition authorities. Addressing the inaugural session of the three-day Asia-Pacific regional seminar on `Competition policy and multilateral trading system', at the Administrative Staff College of India (ASCI), here, Mr Vinod Dhall, Member of the Commission, said the regional committees would be able to address common problems of that particular region. Stressing on the need for such regional groupings, he cited the example of regional associations of financial institutions, chartered accountants and capital market regulators. He asked organisations like UNESCAP (UN Economics and Social Commission for Asia and the Pacific) to initiate a study in this regard. Mr Dhall said there would be more than 120 competition agencies in the world by 2010. Cautioning against anti-competitive practices that could assume proportions of global dimensions, he said competition authorities should have enough strengths, resources and jurisdictional outreach to effectively deal with such practices.
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