International Competition Network 2018 FIRST TIME INDIA is hosting Annual ICN

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International Competition Network 2018
WHY IN NEWS?
India is hosting the 17th Annual Conference of International Competition Network 2018 (ICN2018) in New Delhi.

About the 2018 ICN conference:
  • The ICN holds an Annual Conference which is hosted by a member competition agency. The last such Conference was hosted by Portuguese Competition Authority in 2017 at Porto, Portugal.
  • This is the first time India is hosting the ICN2018 Annual Conference since it joined International Competition Network (ICN) in 2009.
  • The conference will provide an opportunity to exchange ideas and strategies for effective enforcement of competition law and for strengthening cooperation amongst the competition authorities as they strive to promote and sustain competition in rapidly changing markets.

About ICN:
ICN is an international body comprising 132 members from 120 competition jurisdictions exclusively devoted to international competition enforcement. The ICN’s main goal is to improve and advocate for sound competition policy and its enforcement across the global antitrust community.
  • The ICN is a voluntary, consensus-based organisation. The ICN is not a rule-making organisation and its work products are not legally binding instruments.
  • ICN provides competition authorities with a specialised yet informal platform for addressing practical competition concerns, sharing experiences and adopting international best practices.
  • Members: Its members are national competition authorities and NGA (Non-governmental Advisers) which include reputed law firms, eminent persons, and think tanks of international repute.

Why have the ICN?
Economic globalisation has resulted in an increasing number of investigations and reviews of mergers, cartels and unilateral conduct that transcend jurisdictional boundaries. Agencies need to cooperate with each other on cross-border cases in order to reduce the risk of: (i) sub-optimal enforcement if an agency only has a partial picture of the situation; and (ii) inconsistent outcomes if different jurisdictions reach different conclusions about the same practice. The ICN helps facilitate cooperation and convergence, where appropriate. This is good for competition agencies, governments, businesses, and ultimately consumers.


Sources: pib.

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