The Government is in the process of bringing out a National Competition Policy that will act as a guide for ministries and state governments on competition issues.

This was stated by Corporate Affairs Minister Veerappa Moily while speaking at the annual day workshop organised by the Competition Commisssion of India (CII) in New Delhi today.

Mr. Moily said the proposed Policy had already been circulated to various ministries and departments for their comments and thereafter it would be put before the Cabinet for approval.

The Minister emphasised that consumers should be the focus of any policy that the Government made and they should be the ultimate beneficiary. He highlighted that suitable implementation of the Competition Act can result in accelerated growth, more number of jobs, improved efficiency in the system and financially reduced cost to consumers.

Mr. Moily expressed hope that effective enforcement of competition laws and enactment of new national policy will pave the way for second biggest reform initiatives after the 1991 economic reforms.