Competition law history in india

The Competition Act provides for establishment of a Competition Commission of India which will be a quasi judicial body bound by principles of rule of law (i.e. predictability in reasoning and uniform and consistent application of law) in giving decisions and the doctrine of precedents.

Guest Editor Amber Darr Competition law is an economics-based law designed to regulate anti-competitive conduct of market participants.
This article examines the economic circumstances in which India acquired its modern competition law and evaluates the sufficiency of this law for recent developments in India’s digital economy.

The Indian Competition Act, 2002 is very much comprehensive and enacted to meet the requirements of the economic growth and international economic developments relating to competition laws.

It was realised that a new competition law was also called for because the existing Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) had become obsolete in certain respects and that now there was a need to shift focus from curbing monopolies to promoting competition in the Indian market.