Competition laws in India - Analysis & Comparison 1st September, 2013
Competition Act 2002 has come into force to replace the
Monopolies and Restrictive Trade Practices (MRTP) Act,
1969. After the economic reforms of 1990, it was felt that
MRTP has become obsolete pertaining to international
economic developments relating to competition law and
there was a need of law which curbs monopolies and
promotes competition. In 1990s India saw substantial
increases in the value and volume of international trade in
goods and services, in foreign direct investments (FDI), and
in cross border mergers and acquisitions (M&A). Over the
period of time, trade barriers fell and restrictions on FDI were
reduced. The Competition Act, 2002 has been enacted with
the purpose of providing a competition law regime that
meets and suits the demands of the changed economic
scenario in India and abroad



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