Explain the factors which Competition Commission of India (CCI) will take into account to determine whether an agreement has any appreciable adverse effect on competition in the market.

Section 19(3) of the Competition Act, 2002 (the Act) enumerates the factors which the Competition Commission of India (Commission) will take into account to determine whether an agreement has any appreciable adverse effect on competition. According to Section 19(3) of the Act, the Commission shall, while determining whether an agreement has an appreciable adverse effect on competition under section 3 of the Act, have due regard to all or any of the following factors, namely: a. creation of barriers to new entrants in the market; b. driving existing competitors out of the market; c. foreclosure of competition by hindering entry into the market; d. accrual of benefits to consumers; e. improvements in production or distribution of goods or provision of services; or f. promotion of technical, scientific and economic development by means of production or distribution of goods or provision of services. Accordingly, CCI will consider the above factors to determine the existence of appreciable adverse effect on competition in the market.