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Effective enforcement of the Competition Law can help a faster economic growth. This view was expressed by Dr. Frederic Jenny, a judge of the Supreme Court of France at a symposium organized by the Competition Commission of India here today. Dr. Jenny is regarded as one of the key figures in the global competition fraternity.
Elaborating on the key provisions of the EU Competition Law, Dr. Jenny spoke on how India can adopt the model to implement its Competition Law effectively. He pointed out that EU is one of the few jurisdictions in which Competition Law has constitutional validity. He said competition envisages that the market should be governed by free and fair competition without national barriers and unnecessary legal restraints. This is why the European Union has emerged as a major economic force on the global scene. Dr. Jenny informed the participants that the competition authorities in the European Union have set up a network where details of cases are exchanged to avoid litigation in various jurisdictions.
The Competition Commission invites eminent experts on Friday afternoons to make presentations on any competition issue. So far, 27 sessions have been held which were addressed by economists, legal practitioners, management consultants, consumer activists and representatives of trade and industry associations. Since competition issues are characterised by complexities, the forum has proved to be a fast-track learning platform for all concerned.
SMK/ls - rel-CC
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