A Critical Study On The Evolution Of Competition Policy And Competition Law In India
- IJLLR Journal
- 1 day ago
- 1 min read
Tehreem Shyza Khan, BBA LLB, Amity University Uttar Pradesh
Dr. Anuj Sharma, Assistant Professor, Amity University Uttar Pradesh
ABSTRACT
Competition law plays a critical role in maintaining a fair and efficient market by preventing monopolistic practices, promoting fair trade, and safeguarding consumer interests. The evolution of competition policy in India has been marked by a transition from a state-controlled economy under the Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) to a market-driven regulatory framework under the Competition Act, 2002. The Raghavan Committee Report (1999) played a pivotal role in shaping the Competition Act, 2002, which introduced a modern regulatory framework for competition, including provisions on anticompetitive agreements, abuse of dominant position, and merger control.
This research critically examines the historical evolution, legal framework, enforcement mechanisms, and effectiveness of India’s competition law. It compares the MRTP Act with the Competition Act, highlighting their differences in objectives, enforcement powers, and regulatory efficiency. The paper also explores the role of the Competition Commission of India (CCI) in addressing market distortions and its challenges in regulating emerging digital markets and e-commerce platforms.
The study identifies key challenges in competition law enforcement, including prolonged investigations, limited awareness among businesses, and the complexities of regulating digital markets. It also suggests policy recommendations to strengthen competition law enforcement, enhance the autonomy of the CCI, and ensure a competitive digital economy.
Keywords: Competition Law, Competition Policy, Monopolies and Restrictive Trade Practices Act (MRTP Act), Competition Act, 2002, Competition Commission of India (CCI), Market Regulation, Anti- Competitive Practices, Abuse of Dominance, Cartelization, Mergers and Acquisitions, Digital Economy, E-Commerce, Raghavan Committee Report, Economic Liberalization, Fair Trade Practices, Consumer Welfare, Regulatory Framework.
