"Cartelisation will be a challenge," Finance Minister Nirmala Sitharaman said on Friday, emphasising the importance of examining supply disruptions to guarantee that there are no monopolistic or duopolistic conditions driving price spikes or supply manipulations.
In the face of growing inflation, which has prompted concerns about the economy's recovery from the coronavirus pandemic, the minister said there are a few objections, including that material input costs have increased despite India's large capacity to supply domestic demand and exports. Due to the pandemic and the military situation in Eastern Europe, there is a global shortage of commodities and raw materials, as well as disruptions in value chains and supply networks, she observed.
While speaking at the Competition Commission of India's (CCI) 13th annual day celebration in the national capital, Sitharaman said "There are numerous stages at which interruptions occur. Is it genuine COVID or war-related disruptions? There is a need to investigate these disruptions, as well as the origins of the low supply and ensure that there are no monopolistic or duopolistic conditions driving price spikes or supply manipulations "declared the minister
Sitharaman. She said the CCI has stood up and faced challenges with a lot more positivity in the recent two years. "The challenges are becoming more complicated, subtle, and technologically driven. So, the Competition Commission will need to have certain skill sets in order to stay on top of challenges and never fall behind "she said.