How National Competition Laws Were Justified By A Need To Ensure Economic Efficiency And Promote

How National Competition Laws Were Justified By A Need To Ensure Economic Efficiency And Promote Consumer Welfare At Home

Bhavana M E, Ramaiah College of Law, Bengaluru

ABSTRACT

Generally, competition laws are set up on the economic principle that competition is favorable in free market. A major step in India’s attitude toward competing environment-both from within country and from international level is by the introduction of competition law regime. A competition law stands to stop businesses from engaging in malpractices that are harmful to competition and consumer well-being. The growth of Indian economy changed drastically over the years and has become one of the best performers in the world. Involving greater degree of competition can fuel a fuller growth potential in many critical areas of the economy.