Why in news? The Competition Commission of India (CCI) has become a part of the prestigious 18-member steering committee of the International Competition Network (ICN)

Highlights:

• Launch year : 2001
• Type: Informal, virtual network and seeks to facilitate cooperation between competition law authorities globally

Features

• Only global body devoted exclusively to competition law enforcement
• Steering committee is the ICN’s apex body
• Members represent national and multinational competition authorities.
• Comprises of 140 competition agencies for maintaining regular contacts and addressing practical competition concerns
• It does not exercise any rule-making function but reaches consensus based on recommendations or best practices from projects