BRICS competition authorities have agreed to strengthen cooperation and promote fair competition in renewable energy markets, focusing on innovation, sustainability, energy security, knowledge-sharing and effective competition enforcement amid the global energy transition.
The BRICS Competition Authorities Heads meeting, hosted by India under its BRICS Chairship, has adopted a joint statement aimed at strengthening cooperation and promoting fair competition, including in renewable energy markets. The agreement seeks to support competitive, innovative, resilient and sustainable renewable energy markets across BRICS member countries.
The joint statement, titled “Strengthening Cooperation to Promote Fair Competition, including in Renewable Energy Markets,” was adopted during the meeting held in Udaipur on Saturday, according to an official statement issued on Sunday.
The meeting brought together heads and senior representatives of competition authorities from BRICS member countries to discuss developments in competition law and policy, strengthen institutional cooperation and address emerging challenges in increasingly interconnected markets.
As part of India’s BRICS Chairship, the Competition Commission of India (CCI) led a collaborative study titled “Emerging Competition Landscape in the Renewable Energy Sector in BRICS.” The study was undertaken to develop a deeper understanding of changing competition dynamics in renewable energy markets across BRICS jurisdictions and identify areas where greater cooperation could be pursued in the future.
The key findings of the study were presented during the Udaipur meeting. The discussions highlighted the growing importance of competition policy as countries accelerate their transition towards renewable energy and sustainable economic development.
The joint statement reflects the shared commitment of BRICS competition authorities to encourage competitive markets capable of supporting innovation, investment, resilience and sustainability. It also seeks to enhance knowledge-sharing among competition authorities as they respond to new competition-related challenges arising from the global energy transition.
In her inaugural address, CCI Chairperson Ravneet Kaur highlighted the shared responsibility of competition authorities to preserve and promote competitive markets. She said such markets are important for improving efficiency, protecting consumer welfare, encouraging innovation and ensuring that businesses have opportunities to compete on merit.
Kaur also underlined the increasingly cross-border nature of digital markets and emerging technologies. She stressed the importance of sustained cooperation and knowledge-sharing among BRICS competition authorities to develop informed, effective and future-ready approaches to competition enforcement.
The CCI Chairperson further referred to the global shift towards renewable energy and sustainability. She emphasised that continued cooperation among BRICS competition authorities could help foster fair and competitive renewable energy markets while supporting broader objectives related to sustainable growth and energy security.
At a time when renewable energy markets are evolving rapidly, competition authorities face new challenges linked to changing technologies, market structures and business models. The discussions at the BRICS meeting therefore focused on the need for competition law interventions to remain principled, evidence-based and firmly aligned with 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 within their respective jurisdictions. Discussions covered significant enforcement initiatives, institutional developments and emerging competition challenges in domestic markets.
The exchange provided an opportunity for participating authorities to share experiences and perspectives on how competition policy can respond to changing economic conditions and increasingly interconnected markets.
The Administrative Council for Economic Defence of Brazil also briefed participants on preparations for the 10th BRICS International Competition Conference, which is scheduled to be held in Brazil in 2027.
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The meeting concluded with closing remarks from the heads of BRICS competition authorities. They reaffirmed their commitment to continued cooperation, dialogue and knowledge-sharing to promote effective competition enforcement and address emerging competition challenges.
The latest BRICS agreement places renewable energy competition among the areas where stronger international cooperation can help authorities understand evolving market dynamics. Through continued coordination, the participating competition authorities aim to contribute to fairer markets while supporting innovation, sustainability and the wider global transition towards cleaner energy.
