On the 26th of October 2012, the students of IIM Kashipur had the privilege of interacting with Mr. Anurag Goel (Member, Competition Commission of India). Mr. Goel joined the Indian Administrative Service in 1972 and has been Member, Competition Commission of India (CCI) for more than two years. He has rich experience of corporate governance and competition regulation, including nearly 3 ½ years as Secretary to the Government of India, Ministry of Corporate Affairs and varied earlier assignments in the Ministries of Finance, Home, Defence, Civil Aviation etc. He has also been Member of Boards of SEBI, DMRC, Air India, Indian Airlines, Airports Authority of India and a large number of other entities. He is also a member of the board of governors of the Indian Institute of Corporate Affairs.
At the beginning of the session, Mr. Goel provided a brief overview of the CCI and the Competition Act, 2002. He described the role of CCI in making the markets work for the benefit and welfare of consumers. He gave examples of how the CCI had intervened to break anti-competitive agreements, such as the Cartelisation of Cement industry. He impressed on the students, the need for markets to be fair and free, which would aid the country in achieving faster growth and development. He also touched upon the need for competition policies to make sure that the scarce natural resources are used in the most effective manner possible.
Mr. Anurag Goel interacting with the students and faculty of IIM Kashipur
Mr. Goel was keen to spend most of the available time in interacting with the students, and hence he limited his session on the CCI, instead preferring to answer the many questions that the students wished to ask him. The students quizzed Mr. Goel on topics ranging from the role of CCI in Mergers and Acquisitions, to the implications of FDI in retail sector. While answering the students, Mr. Goel spoke of how Regulation needs to exist for promoting healthy competition and innovation, rather than stifling it. The students were also privileged to hear Mr. Goel talk about his efforts as the Corporate Affairs Secretary, in the Government intervention which helped save Satyam Computers in the wake of the corporate scandal in 2009. By the end of the session, the students had a clear idea of the important role performed by CCI. They thoroughly enjoyed the session, as it gave them an opportunity to interact with a stalwart of corporate governance in India.