A Critical Overview Of The Aviation Sector In Light Of The Recent Amendments In Indian Competition Law
- IJLLR Journal
- Apr 15
- 1 min read
Antara Mandal, Christ University, Delhi NCR
Jasleen Pasricha, Christ University, Delhi NCR
ABSTRACT
The Competition (Amendment) Act, of 20231 aims to strengthen competition regulation and ensure a fair market. With the emerging entrepreneurship programmes and the country's booming economy, the amendment ensures that there is an amicable environment that would ultimately help businesses to grow and ensure the economy's betterment by maintaining a fair competitive market. The Indian market is observed to be price-sensitive and has a unique trend that is not observed in other countries. Sectors like IT, Agriculture, Automobile, Aviation and many such industries are growing impeccably. India has emerged to be the third-largest domestic aviation market in the world. It has been estimated that the industry will overtake the UK and become the third-largest air passenger market by 2024. The aviation industry is a major job creator and alone facilitates the tourism market in millions. The sector shares almost US$30 billion i.e., 5% of Indian GDP. With such a huge market share, the sector has a number of good market players. Hence, it requires specific regulations and surveillance to ensure the market competition is fair and just. This research paper dives into the competitive extremes, lacunae and challenges in the Aviation sector and briefs an analysis of the oligopolistic aviation market in light of the Competition Act of 20022 and recent amendments. In conclusion, the paper delves into economic-legal analysis and recommendations that ensure the consumer’s interests are safeguarded and the competition is maintained.
Keywords: Competition Act, 2002, Anti-Trust, Aviation, Monopoly, Market
