Critical analysis of anti-competitive agreements and appreciable adverse effect on competition in india

The importance of competition for economic growth and development is a source of growth and technological improvement in a broad range of the development of developing countries. Many developing countries including India undertook economic reforms which promoted a free competitive market economy as against the control and command economy. In an increasingly united global economy, domestic firms and industries cannot be completely covered from external competitive pressures. The rapidity of liberalization created numerous problems for developing countries in their approach to competition especially check over anti-competitive practices. The primary focus of competition policy is to deter and provide remedies for various anti-competitive practices to ensure free and fair competition in the market. The same rests on the basis that competition law is designed to be a general charter of economic liberty proposed at preserving free and unfettered competition as the rule of trade. The unlimited cooperation of competitive forces will generate the best allocation of economic resources of the country, the lowest price, the highest quality, and greatest material progress. In the research provides key insights into the agreements which are anti-competitive in nature and what can potentially tantamount to anti-competitive behaviour.