New Delhi
Finance Minister Nirmala Sitharaman on Friday said cartelisation is going to be a challenge and stressed on the need to look at supply disruptions in order to ensure that there are no monopolistic or duopolistic situations causing either price hikes or supply manipulations.
Amidst rising inflation which has also raised concerns about the economic recovery from the coronavirus pandemic, the minister said there are a few grievances that input costs of materials have gone up in spite of India having quite a big capacity to meet the country’s own demands and also for exports. There is a global shortage of commodities and raw materials as well as disruptions in the value chains and supply chains due to the pandemic and the war situation in Eastern Europe, she noted. Addressing the 13th annual day function of the Competition Commission of India (CCI) in the national capital, Sitharaman said there are disruptions of various kinds. There are very many stages at which disruptions are coming in. Are they genuinely disruptions caused by COVID or war, there is a need to look into these disruptions, look into the causes for the short supply and also assure that there are no monopolistic or duopolistic situations causing either price hikes or supply manipulations, the minister said. Sitharaman, who is also in charge of the corporate affairs ministry, said in the last two years, the CCI has stood up and met the challenges with a lot more positivity. Challenges are getting more complex, more nuanced and more technology-driven. So, the Competition Commission will have to have such skill sets so that you are never behind the curve and you are on top of the issues, she said. the knowledge you keep acquiring… is going to keep you informed better in handling cases, Sitharaman said.
