COMPETITION LAW: PRECURSORS, PRACTICE AND PROBLEMS

Abstract

Law brings structure and order in the society. Rightly so, it is imperative to have a strong competition law regime in place to guide the activities of the marketplace, the backbone of the economy. India has had a very eventful journey in finding out, formulating and fixing a proper competition legislation in place. The Competition Act regulates the domestic market activities of India by supporting activities that promote healthy competition. As India completes almost two decades after the enactment of the Competition Act of 2002, the author tries to elucidate on the journey of Indian Competition law by discussing its precursor, the MRTP Act, the present legislation, and also enumerates the challenges that are faced by the competition and anti-trust laws in the country.