The Bengal Chamber organized an Interactive Session with Shri Anurag Goel, IAS, Member, Competition Commission of India, on 4th July 2014 at the IMI Auditorium, Kolkata. The other esteemed speakers for the session were, Mr. Jayanta Mukhopadhay, Partner, BSR & Co. LLP, who was also the moderator of the session, and Dr. Tithankar Nag, Dean Academics, IMI Kolkata.

Shri Goel, a key personality in drafting and implementation of the Law, stressed on the fact that Competition Law is not to be confused with compliance – it leads to a much stronger economics-law interface. It is the key to sustained economic growth in a globalized world. He reiterated that effective regulation creates pressure on firms to innovate and CEOs and business schools need to focus on competition law not only for compliance but also as a part of the corporate strategy for innovation and growth.

He also said that competition in markets should be protected and a fair play is to be ensured. Competition Commission of India does not act on redressal of grievances but has been mandated to regulate M&A, takeovers, agreements with suppliers, distributors and customers and interactions of businesses. In a nutshell, he argued that it should be a partnership between the regulators, firms and business associations that would further benefit the economy and the firms whilst a competition agency would help create an enabling regulatory environment.

The session concluded with an open house which saw an active participation from the audience. The session was well attended by senior people from the industry, law firms and charted accountants that made Shri Goel appreciate the quality of the delegates invited. The event was supported by Exide Industries Limited and International Management Institute, Kolkata.