CCI must fairly address cross-border merger issues: FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman Thursday asked the Competition Commission of India (CCI) to "fairly and squarely" address issues arising out of corporate mergers involving cross-border elements.

Speaking at the virtual inauguration of the CCI office for the Western Region in Mumbai, the finance minister also urged CCI to act proactively rather than waiting for people to approach it with complaints.

"As we evolve to be a digital economy, the challenges that digitisation brings are also very important for us to address, we can't ignore them," Nirmala Sitharaman said.


"(Given) the multi-national nature of activities... companies are seeking to have interlocking positions in global value chains," she said. "There are holding companies, there are new acquisitions, there are mergers happening across the globe."

The finance minister's comments come at a time when a parliamentary panel is examining the new competition bill that empowers CCI to regulate cross-border mergers and digital companies.

The bill was presented in the parliament in the Monsoon session.