FAS and India Competition Commission discussed various aspects of cooperation

The competition authorities of the two countries agreed for close cooperation with regard to international mergers and acquisitions on cross-border markets

On 10 May 2017, FAS delegation led by Deputy Head of FAS Andrey Tsyganov had talks with Kumar Sikri, Chairman of India Competition Commission, at the Annual Conference of the International Competition Network (ICN), in Porto (Portugal).

Andrey Tsyganov emphasized that cooperation with BRICS competition authorities is a top priority for FAS and gives a recent example of efficient interaction between the antimonopoly bodies. He expressed hopes that the trend maintains, and result-oriented joint efforts will become even more intensive.

The parties discussed in detail the forthcoming meetings at St Petersburg Legal Forum (16-20 May 2017), that would bring together top executives of the competition authorities of all five BRICS economies and some aspects of preparing BRICS Competition Conference in Brasilia (Brazil) (8-10 November 2017). Andrey Tsyganov invited the Indian colleagues to come to an international event - the “Competition week in Russia” (on 18-20 September 2017 in Veliky Novgorod.

Andrey Tsyganov pointed out that FAS pays special attention to international cartels and unfair practices of large transnational corporations. The issue is common for most countries across the world so FAS put forward an initiative to devise the Toolkit on international cooperation between competition authorities to counter restrictive business practices of large transnational corporations that can be embedded in the system of international acts on competition and adopted at the UN platform.

The Russian delegation informed in detail their Indian colleagues about the initiative to establish BRICS Project Office at “Skolkovo” Innovation Centre, which will provide analytical and methodological support to the antimonopoly bodies of BRICS member-states in joint investigations of violations of the antimonopoly law.

Finally, the parties discussed cooperation in antimonopoly control over large international mergers and acquisitions on some socially important markets. The parties agreed for close cooperation in considering such deals, including consultations that will start in the near future.