A Paradigmatic Analysis Of Anti-Competitive Agreements And Cartelization – How India’s Antitrust Watchdog Has Retaliated
Sanjana Srivastava & Arjun Gupta, Amity Law School, Noida
‘It is also helpful to bear in mind the distinction between a restriction on competition (an economic concept) and a restriction on conduct (a concept which lawyers find easier to understand), especially since such restrictions can be discerned from contractual terms without deeper consideration of the underlying circumstances’12. - Flynn and Stratford
ABSTRACT
Competition is defined as "a condition in a market in which enterprises or sellers compete for the patronage of buyers in order to attain a certain commercial goal, such as earnings, sales, or market share." The purpose of competition law is to promote and offer a fair chance for healthy competition between competing businesses in the market, as well as to protect the interests of consumers. Any liberalised market is inherently competitive, and any market distortion can disrupt the relationship between market and productivity. As a result, the need of a strong competition law and policy for market development cannot be overstated.
Thus, the need for a robust competition law and policy for the market development cannot be overseen. Since its inception, the Competition Commission of India (CCI), often known as India's antitrust/competition watchdog, has been committed to a market-friendly global economy and has taken a proactive approach to the fast-evolving Indian economy. It has done a good job of removing monopolies, safeguarding consumer interests at the macro level, and maintaining market competition.5 The CCI has played both administrative and quasi-judicial roles in eliminating practices which have adverse effect on competition, promote and sustain competition, protect the interest of consumers, and ensure freedom of trade in markets of India. However, CCI has also faced many challenges to gain stability that is starting from the implementation of competition law, transition in antitrust issues of current era and changing its ideal business practices. The focus of this research paper will be on the three primary areas of the Competition Act, namely, corporation cartelization, abuse of dominant position, and mergers and acquisitions, with a particular emphasis on anti-competitive agreements and their practice in India. It will also discuss the impact of CCI and evaluate the regulatory regime's performance. The study will lay out several CCI orders that have aided in monopoly prevention and assess whether their implementation has met legislative expectations.
Keywords: competition, cartel, cartelization, anti-competitive agreements, competition commission
