Application and Enforcement of Competition Law in India
The Competition Act established the CCI, which is entirely responsible for the application and enforcement of the Competition Act.
The CCI currently has six members and one chairperson, Ashok Kumar Gupta.
The CCI can start an investigation into an anti-competitive agreement or abuse of dominance on its own, based on facts or evidence in its possess.
Competitive Advocacy
Competition Act broadens the jurisdiction of CCI beyond just monitoring the rules to include competition advocacy and the creation of a competitive environment.
Competition advocacy, as mentioned in Section 49of the Competition Act, 2002, refers to initiatives that raise public awareness about the importance of a competitive industry.
The customers.
Development of Competition Law in 2022
The central government has proposed the Competition (Amendment) Bill, 2022, which proposes to alter the system of governance of the CCI.
Evolution and Development of Competition Act
The Monopolistic and Restrictive Trade Practices Act, 1969
Features of Competition Act, 2002
The following are some of the main features of the Competition Act:.
1) Anti-competitive agreements: The competition law forbids any agreement involving two or more firms or individuals to maintain market competition and serve the public interest in India.
2) Dominance-abuse prevention: Any firm that exploits its dominating position will be penalise.
Importance of Competition Act, 2002
The Competition Act is concerned with enforcing rules to ensure that firms and corporations compete effectively with one another.
This promotes entrepreneurship and productivity, increases customer choices and helps reduce prices and enhance quality.
1) Low prices: Offering a lower price is the easiest approach for a firm to achieve a large market .
Introduction
The Parliament of India passed the Competition Act, 2002 on January 13, 2003, which repealed the Monopolies and Restrictive Trade Practices Act, 1969.
It came into force on March 31st, 2003.
The Competition Act, 2002 was changed twice after its enactment, with the Competition (Amendment) Act, 2007 and the Competition (Amendment) Act, 2009.
It was a.
Key Concepts of Competition Act, 2002
The Competition Act, 2002 primarily covers four aspects.
1) Anti-competitive agreements.
2) Abuse of the dominant position.
3) Combinations and their regulation.
4) The Competition Commission of India
Relevance of Competition Law in The Digital Era
The usage of digital platforms has increased during the past few years.
Under the Competition Act, 2002, CCI has implemented aggressive regulating procedures and taken proactive action against digital platforms engaged in anti-competitive activities.
CCI examines network effects, internet privacy, data manipulation, data collection, incorporation, .
What are the three basic pieces of competition legislation?
The three foundational pieces of competition legislation upon which the Competition Act has been built are the National Competition Policy (NCP), the Competition Appellate Tribunal, and the Competition Commission of India (CCI).
Why is the Competition Act of 2002 important?
The Competition Act of India is quite broad and was designed to fulfil the requirements of growth in the economy and worldwide economic trends concerning competition law.
As a result, the competition law of 2002 is recognised as a historic law.
This legislation does not allow misuse of power.
