Acknowledging that there are challenges in implementation of fair trade norms, CCI chairman Ashok Chawla today said enterprises need to identify risks that could lead to violation of competition law.
"Competition law applies to all enterprises...It is ownership neutral and size neutral. It applies to all sectors," Chawla said here.
The chief of Competition Commission of India said that enterprises should look at effective compliance programmes to identify risks that could lead to violation of fair trade norms.
"Many businesses, both domestic and multinational companies, have initiated robust compliance programmes (with respect to competition norms)," Chawla said.
According to him, there are internal as well as external challenges in implementation of the competition law. It includes capacity building, he added.
Besides, there are "attempts to create legal hurdles in implementing the competition law", he said.
CCI has the mandate to keep a tab on unfair trade practices across sectors and has so far slapped penalties worth over Rs 8,000 crore on entities for violations.
Many of its orders and proceedings have been challenged at the Competition Appellate Tribunal and courts.
Chawla was speaking at a conference organised by the Institute of Company Secretaries of India.
ICSI today launched a qualification course in competition law for its members.
