Department of Justice and Federal Trade Commission Sign Memorandum of Understanding with Indian Competition Authorities
- Created on Thursday, 27 September 2012 11:46
- Written by IVN
Washington, DC - The U.S. Department of Justice and Federal Trade Commission (FTC) signed an antitrust memorandum of understanding (MOU) with the Government of India Ministry of Corporate Affairs and the Competition Commission of India (CCI) today to promote increased cooperation and communication among competition agencies in both countries.
The ceremony took place in Washington, D.C.
The MOU was signed by Acting Assistant Attorney General Joseph Wayland of the Department of Justice’s Antitrust Division, Chairman Jon Leibowitz of the FTC, Indian Ambassador to the United States Nirupama Rao on behalf of the Indian Ministry of Corporate Affairs and CCI Chairman Ashok Chawla.
“We value our relationship with the Indian Ministry of Corporate Affairs and the Competition Commission of India. We know that this memorandum of understanding will enhance that relationship in the years ahead, as we work together to ensure that markets are open and competitive, by identifying and remedying anticompetitive behavior,” said Acting Assistant Attorney General Wayland.
Commenting on the signing, Chairman Leibowitz said, “We are delighted to enter into this memorandum of understanding with the Indian Ministry of Corporate Affairs and the Competition Commission of India. It will strengthen the already excellent relations among the U.S. and Indian competition authorities by further facilitating cooperation on policy and enforcement matters.”
Key provisions of the MOU address the following:
Cooperation - The MOU provides that the U.S. antitrust agencies and Indian authorities will work to keep each other informed of significant competition policy and enforcement developments in their jurisdictions, and establishes a framework for technical cooperation. The MOU also recognizes that when the U.S. and Indian competition agencies are investigating related matters, it may be in their common interests to cooperate.
Communication - The MOU establishes a framework for the U.S. antitrust agencies and the Indian competition authorities to consult on matters of competition enforcement and policy. It also contemplates periodic meetings among officials to exchange information on policy and enforcement priorities.
The MOU is a framework for voluntary cooperation and will not change existing law in either country. India adopted its modern competition law in 2002, and the law’s main provisions were put into effect between 2009 and 2011.