FISME organises awareness programme on Competition Law & Compliance in Karnataka

Bengaluru, Apr 21 (KNN) With a 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.

FISME organized two sessions on the Competition Law and Compliance here in the state capital on Friday covering the topics such as unfair trade practices, cartelization, monopolies etc.

The first session of the day was held with the Association of Women Entrepreneurs of Karnataka (AWAKE). While addressing the session, President of Awake, Dhanwanti Jaiin said, “This is a good initiative for the SMEs. They should be aware about the Competition Laws and Compliance as most of them don’t know about this.”

The second session of the day was held by FISME with Federation of Karnataka Chamber of Chambers of Commerce and Industries (FKCCI).   Speaking at the event, FKCCI President, R Shivakumar said, “It is a very nice initiative to make aware the small entrepreneurs about the Competition Law. I think most of the SMEs are not aware about this law.”

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 bring awareness to 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.

Earlier, the Competition Law and Compliance was held this month in Gurgaon that saw the participation of 47 individuals from the MSME sector.

On behalf of Hindustan Unilever, Deputy Company Secretary, Amit Bhasin made the presentation about the Competition Laws and Compliance.