The Union Cabinet chaired by the Prime Minister Shri Narendra Modi recently approved the MoU between Competition Commission of India (CCI) and Administrative Council for Economic Defense of Brazil, (CADE).
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.
The regulator has entered into six pacts so far. They are as follows:
- Federal Trade Commission and Department of Justice of USA
- Director General Competition of European Union
- Federal Antimonopoly Service of Russia
- Australian Competition and Consumer Commission
- Competition Bureau of Canada
- BRICS Competition Authorities