India’s anti-trust law is embodied in the Competition Act, 2002 (amended by the Competition Amendment Act, 2007) and became fully operational from 1 June 2011 when the provisions regulating mergers and acquisitions were notified. While competition advocacy was notified in 2003, the provisions regulating anti-competitive agreements and abuse of dominance were notified with effect from 20 May 2009. Both the Competition Commission of India (CCI) (which administers the law) and the Competition Appellate Tribunal (CAT) are operational.
Objectives of the act:
• Establish a Commission to prevent practices having adverse effect on competition.
• Promote and sustain competition in markets .
• Protect the interests of consumers .
• Ensure freedom of trade in the Indian markets
• Regulates anti-competitive agreements – ex post facto; operational.
• Regulates abuse of dominant position – ex post facto; operational.
• Regulates combinations – ex ante; operational.
• Repeals MRTP, 1969 .
• Has extra-territorial reach.
• Covers both goods and provision of services