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News Details

Cabinet approves pact between CCI, Brazil's Administrative Council for Economic Defense

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20/04/2021 17:44
The Union Cabinet on Tuesday approved signing of a pact between fair trade regulator CCI and the Administrative Council for Economic Defense of Brazil. As per the Competition Act, 2002, the Competition Commission of India (CCI) can enter into any memorandum or arrangement with any agency of any foreign country for discharging its duties or performing its functions under the Act, a statement noted.

"The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi today has approved the Memorandum of Understanding (MOU) between Competition Commission of India (CCI) and Administrative Council for Economic Defense of Brazil (CADE)," it said.

The regulator has entered into six pacts so far -- with US" Federal Trade Commission and Department of Justice; European Union"s Director General Competition; Russia"s Federal Antimonopoly Service; Australian Competition and Consumer Commission; Canada"s Competition Bureau; and BRICS Competition Authorities.

The present proposal relates to signing of a similar MoU between CCI and CADE, the statement added.