New Delhi, Aug 10: Competition authorities of BRICS countries have adopted a joint statement to strengthen cooperation in promoting fair competition in renewable energy markets and addressing emerging competition challenges arising from the global energy transition.
The joint statement, titled ‘Strengthening Cooperation to Promote Fair Competition, including in Renewable Energy Markets,’ was adopted at the BRICS Competition Authorities Heads meeting hosted by India in Udaipur on Saturday as part of India’s BRICS Chairship.
The meeting brought together heads and senior representatives of competition authorities from BRICS member countries to discuss developments in competition law and policy, strengthen enforcement cooperation and exchange views on emerging challenges in increasingly interconnected markets.
As part of India’s BRICS Chairship, the Competition Commission of India (CCI) led a collaborative study, ‘Emerging Competition Landscape in the Renewable Energy Sector in BRICS’, aimed at developing a deeper understanding of competition dynamics in renewable energy markets across BRICS jurisdictions.
The study also identified potential areas for greater cooperation among competition authorities. Its key findings were presented during the meeting.
The joint statement reflects the shared commitment of BRICS competition authorities to foster competitive, innovative, resilient and sustainable renewable energy markets and strengthen knowledge-sharing on competition issues associated with the global transition towards renewable energy.
Addressing the meeting, CCI Chairperson Ravneet Kaur said competition authorities have a shared responsibility to preserve and promote competitive markets that encourage efficiency, consumer welfare, innovation and opportunities for businesses to compete on merit.
Kaur highlighted the growing cross-border nature of digital markets and emerging technologies and stressed the importance of sustained cooperation and knowledge-sharing among BRICS competition authorities to develop informed, effective and future-ready approaches to competition enforcement.
On the global transition towards renewable energy, she said continued collaboration among BRICS competition authorities would contribute to creating fair and competitive renewable energy markets while advancing the objectives of sustainable growth and energy security.
She further emphasised that competition law interventions must remain principled, evidence-based and firmly anchored in the core objectives of competition law, particularly amid evolving market dynamics and emerging enforcement challenges.
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 domestic markets.
Brazil’s Administrative Council for Economic Defence briefed participants on preparations for the 10th BRICS International Competition Conference, scheduled to be held in Brazil in 2027.
The meeting concluded with the heads of BRICS competition authorities reaffirming their commitment to continued cooperation, dialogue and knowledge-sharing to promote effective competition enforcement and address emerging challenges in increasingly interconnected markets.
