COMPETITION REGIME IN INDIA: IN DEPTH ANALYSIS OFANTI-COMPETITIVE AGREEMENTS

ABSTRACT Competition is an essential factor for increasing the potential of an economy to be competitive globally and for creating a consumer oriented and consumer friendly environment in the domestic market. Liberalisation alone is not sufficient and there is a need for a competition policy to promote competition. Such a policy has a critical place in the restructuring of developing and transition market economies. It encourages competition by keeping a check on potential monopolies and making sure that businesses act fairly in relationship to each other. The purpose of competition policy is to promote efficiency by preventing anti-competitive practices of firms. It is a set of legislative measures and rules that directly impact on the behaviour of individual enterprises and the structure of industries. It is concerned with the easing of Restrictive Business Practices that hinder free and fair competition and affect the measures taken to either promote a more competitive environment or to prevent a reduction in competition.