Nature of Anti-Competitive Agreement Law in India: A Brief Review

Abstract

To have an efficient economy, it is essential to build up a market structure where every participant remains independent and acts as competitive restraints on each other. But some participants to increase profits may end up entering into agreements that may restrict the spirit of healthy competitors in the like field which was even foreseen by the great economist Adam Smith. This is the reason why regulation of the anti-competitive agreement becomes essential and it is a subject matter of the Competition Law. In India, the Competition Act of 2002 governs the provision of the anti-competitive agreement. This article will try to make an analysis of the anti-competitive agreement provision under the Indian law and to find out the difficulties in the implementation of this provision by making a study of the views provided by different scholars in brief.