Competition Policy: A Multilateral Approach

The objective of competition policy and law is to preserve and promote competition as a means of ensuring efficient allocation of resources in an economy by eliminating restrictive business practices of private enterprises. It is now believed that liberalization and competition lead to efficiency in the allocation of resources and higher growth. However, the markets may not ensure a fair competition, thus leading to monopolies and unfair trade practices. Therefore, the need for competition policy exists even in a deregulated free market economy. This book covers issues relating to the structure of the competition policies included in the WTO and the competition laws enacted in various developed and developing countries. This book captures India’s evolution and progress in this regard.