Jun 14 2013, 11:18pm CDT | by Luigi Lugmayr
Washington, June 15 — India and the US have agreed that their legal agencies associated with the enforcement of competition law would interact closely as envisaged under the framework of an MoU signed in September 2012.
India's visiting Minister for Corporate Affairs Sachin Pilot reviewed the MoU signed jointly by his ministry and Competition Commission of India with the US Department of Justice and Federal Trade Commission with FTC chairperson Edith Ramirez.
Pilot also suggested at the meeting Thursday that officials of FTC and MCA identify a few specific activities for cooperation and joint action prior to Ramirez's visit to India in October, according to the Indian embassy.
The Indian Institute of Corporate Affairs could cooperate with the FTC in capacity building and awareness generation of the competition legislation and the forthcoming competition policy, among the legal practitioners and judicial bodies of both countries, he suggested.
University President Steven Knapp called the MoU an opportunity for three years, to effectively engage with IICA, in the area of corporate affairs.
The discussions covered a broad range of topics relating to the business environment in India and the provisions relating to corporate governance and CSR in the forthcoming new Companies Bill.
The IFC officials expressed great interest in quickly operationalising the MOU which is to be signed shortly between the Indian Institute of Corporate Affairs and the IFC.
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