New Delhi, April 12 (KNN) With the view to empowering MSMEs to take advantage of the Competition Laws in India, FISME and Hindustan Unilever Limited have jointly initiated a nationwide campaign to create awareness about the rights and responsibilities of the small businesses under the Act.
The first session on Competition Law and Compliance was held recently in Gurgaon where 47 participants from the MSME sector took part.
The session covered the topics such as unfair trade practices, cartelization, monopolies etc.
Speaking on the occasion, Hindustan Unilever Executive Director Dev Bajpai said, “This is a good initiative for the SMEs. They should be aware about the Competition Laws and Compliance.”
Joint Secretary of FISME, Mukesh Kalra, who represented the chamber said, “Federation of Indian Micro and Small & Medium Enterprises (FISME) has entered into an understanding with the Hindustan Unilever to aware the SMEs about the Competition Law. It is very essential for the SMEs to be aware about the laws in order to protect their rights.”
There are several provisions in the Competition Act, under which any firm can see redressal of its grievances against a large company which is resorting to taking disadvantage of its monopoly and pre-dominant position in the market place by way of various objectionable measures like collusion, predatory pricing etc.
The redressal can be sought from the Competition Commission of India, quasi-judicial body formed under the Act.