The Competition Commission of India (CCI) was established on 14th October, 2003. It is an independent statutory body established under the Competition Act, 2002. The CCI is responsible for promoting and protecting competition in the Indian market. It does this by preventing anti-competitive agreements, abuse of dominant position and regulating mergers and acquisitions.
The CCI has a wide range of powers, including the power to investigate complaints, issue orders, impose penalties and refer matters to the courts. It also has the power to conduct market studies and publish reports.
The CCI has played a significant role in promoting competition in the Indian market. It has taken action against a number of anti-competitive practices, including cartels, abuse of dominant position and mergers that would have resulted in a substantial lessening of competition. The CCI has also published a number of reports on competition issues in India.
The CCI is an important institution in the Indian economy. It plays a vital role in promoting competition and ensuring that markets are fair and competitive.
Option A is incorrect because the CCI was established on 14th October, 2003, not 2nd October, 2003.
Option B is incorrect because the CCI was established on 14th October, 2003, not 14th March, 2003.
Option C is incorrect because the CCI was established on 14th October, 2003, not 14th May, 2003.