On September 27, 2012, the US Department of Justice and the Federal Trade Commission signed a memorandum of understanding with the Government of India Ministry of Corporate Affairs as well as the Competition Commission of India. The antitrust memorandum encourages increased cooperation between competition agencies in each country.
The first key part of the MOU addresses cooperation. The provision states that U.S. antitrust agencies and Indian authorities will cooperate and inform each other about competition policies and changes to enforcement in specific jurisdictions. If the United States and India are investigating a similar matter, the two countries have agreed to cooperate.
The second key part of the MOU stresses communication. The provision states that United States and India will keep each other updated about all competition enforcement and policies addressing enforcement. The provisions also states that the United States and India will engage in meetings from time to time in order to discuss policy and enforcement information.
Joseph Wayland, the Acting Assistant Attorney General, stated, “We value our relationship with the Indian Ministry of Corporate Affairs and the Competition Commission of India. 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.”
The memorandum was signed by Wayland, Chairman Jon Leibowitz under the FTC, Nirupama Rao, the Indian Ambassador to the United States for the Indian Ministry of Corporate Affairs, and CCI Chairman Ashok Chawla.
Chairman Leibowitz commented, “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.”
Source: Department of Justice