COMPETITION LAW AS A TOOL FOR INCLUSIVE CONSUMER WELFARE IN INDIA: A CRITICAL ANALYSIS
ABSTRACT
The Competition Act of 2002 transformed India's existing economic
regulations by replacing its previous system that restricted monopolies through
the Monopolies and Restrictive Trade Practices Act of 1969 with new regulations
that support competitive markets as the main method for delivering consumer
benefits. The Act which created the Competition Commission of India (CCI)
appeared after India's 1990s era of liberalisation and globalisation to give
CCI three tasks: to stop anti-competitive agreements, to control abuse of
dominant market positions, and to review business combinations that might bring
serious harm to market competition. The Act's Preamble establishes consumer
welfare as its main value which guides all parts of the regulatory framework.
The research investigates
whether the existing competition law framework of India achieves its goal to
provide consumer welfare benefits that reach all segments of the Indian
population including those who lack digital skills and live in remote areas and
belong to economically disadvantaged groups. The study demonstrates through its
evaluation of legislative texts and significant judicial rulings and the new
regulatory issues which arise from digital markets that competition law in
India successfully advances consumer protection through its three main
achievements which include battling unfair pricing practices and enhancing
market alternatives and controlling powerful business entities. The research
identifies a fundamental discrepancy between the theoretical framework of
competition law and its actual implementation because institutional limitations
and insufficient consumer understanding and excessive legal complexities
obstruct its complete distribution. The study assesses the Competition
Amendment Act of 2023 because it establishes deal value thresholds and global
turnover penalties and settlement processes which determine how these changes
impact enforcement effectiveness and social welfare. The study proposes a
competition law framework which combines distributive fairness and
institutional strength with public advocacy to meet the needs of all Indian
consumer groups.
Keywords: Consumer
Welfare, Competition Act 2002, Competition Commission of India, Abuse of
Dominance, Digital Markets.
Monopolies and Restrictive Trade Practices Act, 1969
(Act 54 of 1969).