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Antitrust probe ordered against Amazon, Flipkart
Why is it in the news?
- India's competition watchdog ordered an investigation into alleged competition law violations by Amazon.com Inc. and Walmart’s Flipkart.
More in the news
- The Competition Commission of India said it “is of the opinion that there exists a prima facie case which requires an investigation”.
- The antitrust body directed its director-general, who investigates such cases, to submit its report within 60 days.
- About Competition Commission of India (CCI):
(1) It is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India.
(2) The following are the objectives of the Commission.
(3) To prevent practices having adverse effect on competition
(4) To promote and sustain competition in markets
(5) To protect the interests of consumers
(6) To ensure freedom of trade
Source
The Hindu.