BRICS meet agrees to promote fair competition in renewable energy markets
New Delhi, Aug 9
The BRICS Competition Authorities Heads meeting hosted by India has adopted a joint statement on 'Strengthening Cooperation to Promote Fair Competition, including in Renewable Energy Markets,' according to an official statement issued on Sunday.
As part of India's BRICS Chairship, the Competition Commission of India (CCI) steered a collaborative BRICS study titled "Emerging Competition Landscape in the Renewable Energy Sector in BRICS" to develop a better understanding of the evolving competition dynamics in renewable energy markets across BRICS jurisdictions and identify areas for future cooperation.
The key findings of the Study were presented during the meeting held in Udaipur on Saturday.
The joint statement reflects the shared commitment of BRICS competition authorities to promote competitive, innovative, resilient, and sustainable renewable energy markets and to enhance knowledge sharing among BRICS Competition Authorities in addressing emerging competition issues associated with the global energy transition.
The meeting brought together the heads and senior representatives of competition authorities from BRICS member countries to strengthen cooperation in promoting fair competition and addressing emerging challenges in competition law and policy.
In her inaugural address, CCI Chairperson Ravneet Kaur underscored the shared responsibility of BRICS competition authorities to preserve and promote competitive markets that foster efficiency, consumer welfare, innovation, and opportunities for businesses to compete on merit.
Highlighting the increasingly cross-border nature of digital markets and emerging technologies, she observed that sustained cooperation and knowledge-sharing among BRICS competition authorities would be essential for developing informed, effective, and future-ready approaches to competition enforcement.
Referring to the global transition towards renewable energy and sustainability, Raveent Kaur noted that continued collaboration among BRICS competition authorities would contribute to fostering fair and competitive renewable energy markets while advancing the shared objectives of sustainable growth and energy security. She also emphasised that, amidst evolving market dynamics and emerging enforcement challenges, competition law interventions must remain principled, evidence-based, and firmly anchored in the core objectives of competition law.
During the Meeting, the Heads of BRICS Competition Authorities exchanged views on recent developments in competition law and policy in their respective jurisdictions, including significant enforcement initiatives, institutional developments, and emerging challenges in their domestic markets.
The Administrative Council for Economic Defence, Brazil, briefed the participants on its preparations for the Xth BRICS International Competition Conference, scheduled to be held in Brazil in 2027.
The meeting concluded with closing remarks by the Heads of BRICS Competition Authorities, who reaffirmed their commitment to continued cooperation, dialogue, and knowledge-sharing to promote effective competition enforcement and address emerging challenges in increasingly interconnected markets.
— IANS
Reader Comments
Good move by CCI, but let's also focus on domestic manufacturing. We talk about fair competition globally but our own solar panel manufacturers are struggling against cheap imports. Make in India for renewable energy should be a priority too! 🇮🇳
Proud moment for India hosting this. But the real test is whether small Indian renewable startups get a level playing field. Big corporations can easily dominate the market, and CCI needs to keep a close watch. Competition isn't just about global talks, it's about local enforcement.
Glad to see multilateral cooperation on this critical issue. Clean energy markets need robust antitrust frameworks to prevent monopolies before they form. The BRICS housing this conversation is a good sign for the global energy transition.
At least the direction is right. We have huge solar and wind potential in India, but issues like land acquisition and grid integration remain. Fair competition is fine, but we also need faster clearances, better infrastructure, and simpler policies for renewable projects. 😊
Climate action is the need of the hour, and India is positioning itself well on the global stage. However, these meetings must align with ground realities - energy affordability for all remains a major concern. Sustainable growth shouldn't mean expensive electricity for the poor.
S We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.