Critical Analysis Of Antitrust Laws Under Indian Jurisdiction: A Comparative Study

Virkein Manglik, Amity Law School, Noida

ABSTRACT

Antitrust Laws stimulate business competition by stabilizing the economic power distribution. Antitrust Laws do not necessarily limit the market power of a firm but regulates them so as to ensure that the economically weaker are not exploited and facilitate a free and open market for the benefit of both the consumers and the economy of a country. Competition in the market is imperative for the economic growth but it must be regulated to safeguard the interests of market stakeholders. In this paper, the author is going to discuss the historical background of antitrust regime in the country and its current trends including the recent amendments made in the Indian legislation. A comparative study of the US and European Legislations would also be done with reference to case studies. The author would also be focusing on the numerous aspects of the antitrust regime in India like – the abuse of dominant position, adverse effect on the economy, interest of the consumers and maintaining the sanctity of the law of the land. The author discusses lacunae for instance absence of a concept of collective dominance, lack of legislation to regulate completion in Artificial Intelligence development. Lastly, the author will conclude by giving suggestive remarks for best practices in order to re-quip the antitrust regime in the country in consonance with the technological developments and the needs of the market to ensure market stability.

Keywords: Abuse of Dominant Position, Adverse Effect, Artificial Intelligence Regulations, Indian Competition Law, Antitrust Laws