Challenges in Implementation of Competition Act, 2002 with Special Reference to Anti-Competitive Agreements

Abstract

In 2002, the Parliament of India enacted the Competition Act, replacing the archaic Monopoly and Restrictive Trade Practices Act (popularly referred to as the MRTP Act) of 1969. The primary goal of the Act, as stated in the preamble, is keeping in view of the economic development of the country to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect interests of consumers and to ensure freedom of trade. Competition Act had faced huge difficulties in its implementation on real practical grounds in India. Amongst the biggest hassles have been the Anti-Competitive Agreements. We shall understand how the implementation road has been so rough for the Competition Act, 2002 so far while also laying emphasis on position of Anti-Competitive Agreements in the said respect.