Fair Competition: The Engine of Economic Development

Chartered Secretary, Vol. XLVI No. 11, pp. 83-86 (2016)

11 Pages Posted: 24 Jun 2019 Last revised: 21 Oct 2019

Date Written: November 10, 2016

Abstract

The Competition Laws are seen as social as well as economic legislation. On the one hand it lays rule for cometition among market players and on the other hand it provides security to weaker organisation and consumers against the unfair trade practices. This paper highlights the need for the competition laws and its impact upon the economic development. The evolution and structure of competion laws as prevailed in India have also been discussed in this article. The article ends with the conclusion that Fair Competition stimulates increased efficiency in innovation, production and resource use, which in turn, leads to enterprise development and increased aggregate welfare with overall economic development.

Keywords: Fair Competition, Competition Laws, Economic Development

JEL Classification: K21

Suggested Citation

Jarwal, Devendra, Fair Competition: The Engine of Economic Development (November 10, 2016). Chartered Secretary, Vol. XLVI No. 11, pp. 83-86 (2016). Available at SSRN: https://ssrn.com/abstract=3405943

Devendra Jarwal (Contact Author)

University of Delhi ( email )

University Road
Kirti Nagar
Delhi, DE New Delhi 110 007
India

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