Competition Commission of India and Consumers’ Welfare: An Analysis

47 Pages Posted: 17 Apr 2013

See all articles by Hemant Singh

Hemant Singh

Sharda University; Amity University Rajasthan; National Law University Jodhpur (NLUJ)

Radha Naruka

National Law University Jodhpur (NLUJ)

Date Written: April 17, 2013

Abstract

After globalization of economies around the world, markets became more and more competitive. International players also jumped into the field called local or national market of a country. Entry of so many players gives birth to unfair means and malafide practices which leads to unhealthy competition and only big players have chance to win the game. In the pursuit of globalization, India has also responded to opening up its economy, removing controls and resorting to liberalisation. The natural corollary of this is that the Indian market should be geared to face competition from within the country and outside. Hence, the Competition Act, 2002 has been enacted replacing the MRTP Act, 1969, with the purpose of providing a competition law regime that meets and suits the demands of the changed economic scenario in India and abroad. The purpose of formulating a competition law in India was to shift the focus from curbing monopolies to promoting competition. Competition in a market contributes to the progress of an economy because it ensures better products and services, offers wider choice, promotes efficiency and increases consumer welfare. Competition eliminates the poor performing products or services and leaves only good and outstanding products for the general masses to consume. Consumers need good quality products at lower prices. If there is competition in the market, the market players in order to survive will be compelled to bow down to the demands of the consumer, i.e. quality products at lower prices. Competition law, therefore, is designed for the regulation of competition, thereby ensuring economic growth.

Suggested Citation

Singh, Hemant and Naruka, Radha, Competition Commission of India and Consumers’ Welfare: An Analysis (April 17, 2013). Available at SSRN: https://ssrn.com/abstract=2252526 or http://dx.doi.org/10.2139/ssrn.2252526

Hemant Singh (Contact Author)

Sharda University ( email )

Knowledge Park III
Greater Noida
Greater Noida, Uttar Pradesg 201301
India

Amity University Rajasthan ( email )

Amity University Jaipur Kant Kalwar NH 11
Jaipur Delhi Highway
Jaipur, 303002
India

National Law University Jodhpur (NLUJ) ( email )

NH-65, Nagaur Road, Mandore
Jodhpur, 342001
India

Radha Naruka

National Law University Jodhpur (NLUJ) ( email )

NH-65, Nagaur Road, Mandore
Jodhpur, 342001
India

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