Competition Commission of India and Consumers’ Welfare: An Analysis
Amity University, Noida, India.
Volume II – Issue III, 2020
After globalization of economies around the globe, markets turned out to be increasingly serious. Global players likewise hopped into a field called nearby or public market of a nation. Section of countless players brings forth the out of line implies and malafide rehearses which prompts undesirable rivalry and just enormous players have opportunity to dominate the match. In the quest for the globalization, India has likewise reacted to opening up its economy, eliminating controls and falling back on the advancement. The characteristic end product of this is that the Indian market ought to be outfitted to confront rivalry from inside the nation and outside. Thus, the Competition Act, 2002 has been ordered supplanting the MRTP Act, 1969, with reason for giving an opposition law system that satisfies and suits the needs of the changed monetary situation in India and abroad. The motivation behind planning an opposition law in India was to move the concentration from checking imposing business models to advancing rivalry. Rivalry in a market adds to the advancement of an economy since it guarantees better items and administrations, offers more extensive decision, advances productivity and builds shopper government assistance. Rivalry kills the helpless performing items or administrations and leaves just great and remarkable items for the overall masses to devour. Purchasers need great quality items at lower costs. On the off chance that there is rivalry on the lookout, the market major parts so as to endure will be constrained to bow down to the requests of the buyer, for example quality items at lower costs. Rivalry law, in this way, is intended for the guideline of rivalry, along these lines guaranteeing financial development.