Harini Rangarajan & Sudesna Sarkar, BBA LLB (H), Amity University Kolkata
ABSTRACT
The term ‘trade’ is a common phenomenon which is happening all around the world with each other, country to country, state to state, place to place every single day in known modes of business. It is a crucial part of life where everyone is part of this circle as owner, businessman, employee or worker and their consumers who engage in business activities. To ensure fair competition amongst the businesses is regulated under the Competition Act,2002 and protection to the customer is regulated under Consumer Protection Act,1986. These both acts are complimentary to each other1 which helps to promote of the expansion of market conditions that helps the customers with appropriate choices at lower prices. Hence, we could see the common objective of these act is protection and promotion of consumer welfare from the abusive position of the competitors in the market. But they address these issues and employ different methods. Consumer protection is made with the objective of protect the rights of the consumers and safeguard their interests through proper redressal mechanisms. Whereas, Competition Act, 2002 objectives is to prevent any harm which can lead to unfair competition, to promote as well as maintain fair and healthy market competition, protect right and interest of the consumers, and ensure competitors enjoy freedom of trade in India as much as possible so that consumers can also have ample of choices of goods and services to avail and so on which will be further discussed in the paper. In this paper we are analysing and understanding the comparative dynamics of Competition Act, 2002 as well as Consumer Protection Act,1986. How they help the to protect and ensure consumers rights as well as competition in the markets is fair so that at the end consumers are also benefitted. These two acts are co-relating with each other but in their own methods and that’s what we are mainly focusing on this paper.
Keywords: Protecting consumer’s rights and interest, Healthy and Fair Competition, Comparative analysis of the acts. Co-relation with each other, Proper Redressal Mechanism, Consumer welfare, Perfect Competition
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