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Article abstract
Journal of Economics and International Business Management
Review Article | Published May 2018 | Volume 6, Issue 1, pp. 1-9
Competition law and consumer welfare in India
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Amit Kashyap*
Thajudheen K.
Email Author
Tel: 8725890048
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Department of Law, CUPB, Punjab-151001, India.
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Citation: Kashyap A, Thajudheen K (2018). Competition law and consumer welfare in India. J. Econ. Int. Bus. Manage. 6(1): 1-9.
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Abstract
With the liberalization of the economy and enhancement of market in the competition, nowadays in India the role played by Competition Commission as a regulator gains utmost importance. The Hon’ble Supreme Court in Ashoka Smokeless Coal India. Pvt. Ltd. v. Union of India has observed that in a market governed by free economy where producers fix their own prices. Competition can be defined as a process wherein cost efficient production is achieved in a structure having reasonable number of players (producers and consumers) with simple entry and exit procedures and where exists a close substitution between products of different players in a given industry . The aforesaid level playing field can be achieved when there is a choice and competition in the market for procurement of goods. If the policy of the open market as to be achieved the benefit of the consumer must be kept uppermost in mind by the State. This paper explores the
correlation between consumer protection and the Competition Commission of India. The work begins by explaining perfect market conditions and ideal consumer behavior and then goes on to discuss what variations are present in reality. The author explains the need for the rationality behind consumer protection and also goes on to explain the different standards on which consumer protection policy can be based for the welfare of consumer in the market in the competition. The evolution of the competition law of India is also critically analyzed for a better understanding of how the needs of consumer protection changed over a time. The paper goes on to discuss the effects of anti-competitive practices on the consumer and how the law provides for inquiry into alleged contravention of provisions relating to anti-competitive agreements, abuse of dominance and combinations by the Competition Commission of India. There undergoes a review of the cases accepted by the Competition Commission of
India and a critical analysis of the reasoning behind various decisions by giving some conclusions and suggestions.
Keywords Consumer welfare
competition law competition policy competition commission
anti-competitive practices
Copyright © 2018 Author(s) retain the copyright of this article.
This article is published under the terms of the Creative Commons Attribution License 4.0
References
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Sharma MM (nd). India: Competition Law and Policy- Essential Tools For Free Markets, Retrieved from http://www.mondaq.com/india/x/310868/Antitrust+Competition/Competition+Law+And+Policy+Essential+Tools+For+Free+Markets, accessed on 3rd March, 2017.
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