)
Underlining the importance of corporate ethics, Competition Commission chief Ashok Chawla today said there should be a balance between penalties, sanctions and incentives while tackling unfair business practices.
Chawla also emphasised transparency in "public policy space" is important.
While dealing with unfair trade practices, Chawla said the balance between penalties, sanctions and incentives should be looked at.
He further said competition law provides for leniency to companies that break away from a cartel and inform the regulator about such activities.
Competition Commission of India (CCI) keeps a tab on unfair trade practices at the market place.
Speaking at the CVC Golden Jubilee programme here, Chawla said awareness is also important to curb anti-competitive business practices and asserted that focus on corporate ethics is important.
"Corporate governance sounds simple but it is all encompassing one... Compliance programmes need to be internalised," he said.
CCI has been making efforts to create awareness about anti-competitive business practices and advise entities to restrain from such activities.
In recent times, the fair trade watchdog has acted against many cartels.
