WASHINGTON – In a shocking move, the U.S. Department of Justice and Federal Trade Commission (FTC) signed an antitrust memorandum of understanding (MOU) with the Government of India Ministry of Corporate Affairs and the Competition Commission of India (CCI) to crack down on anticompetitive practices. The ceremony took place in Washington, D.C.
The MOU aims to promote increased cooperation and communication among competition agencies in both countries. The agreement was signed by Acting Assistant Attorney General Joseph Wayland of the Department of Justice’s Antitrust Division, Chairman Jon Leibowitz of the FTC, Indian Ambassador to the United States Nirupama Rao on behalf of the Indian Ministry of Corporate Affairs and CCI Chairman Ashok Chawla.
“We value our relationship with the Indian Ministry of Corporate Affairs and the Competition Commission of India,” said Acting Assistant Attorney General Wayland. “We know that this memorandum of understanding will enhance that relationship in the years ahead, as we work together to ensure that markets are open and competitive, by identifying and remedying anticompetitive behavior.”
Chairman Leibowitz echoed Wayland’s sentiments, stating, “We are delighted to enter into this memorandum of understanding with the Indian Ministry of Corporate Affairs and the Competition Commission of India. It will strengthen the already excellent relations among the U.S. and Indian competition authorities by further facilitating cooperation on policy and enforcement matters.”
The MOU addresses key provisions, including cooperation and communication between the U.S. and Indian competition agencies. The agreement provides that the U.S. antitrust agencies and Indian authorities will work to keep each other informed of significant competition policy and enforcement developments in their jurisdictions. It also establishes a framework for technical cooperation and recognizes the benefits of cooperation when investigating related matters.
The MOU is a framework for voluntary cooperation and will not change existing law in either country. India adopted its modern competition law in 2002, and the law’s main provisions were put into effect between 2009 and 2011. While the agreement does not directly impact U.S. businesses, it marks a significant step in the global fight against anticompetitive practices.
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