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The principal objective of competition law is to protect the competitive process. It prohibits activities such as collusive agreements to fix prices or outputs, abuse of dominance, or monopolization, and anti-competitive mergers. Around the world as an increasing number of countries move toward economic liberalization, there is renewed interest in adopting or modernizing competition laws. India, too has taken significant steps away from its post-independence system of governmental controls and protective regimes. The Competition Act, 2002 is on the statute books and is likely to be fully operational within a short period.
This unparalleled volume, with contributions from eminent inter- national, as well as Indian specialists, offers a comprehensive survey and analysis of key concepts and issues in competition law. Equally importantly, it contains the essence of the experience of the law in practice in major developed and developing countries. Experts from the respective jurisdictions have written on competition law in Australia, the European Community, Germany, the UK, the USA, Korea, Mexico, and South Africa.
This book is particularly relevant for countries such as India, which may be said to have a weak competition culture, and where the need to build a knowledge base is indisputable. The final part of the book is devoted to the evolution of competition law in India, particularly the provisions of the 2002 statute. Throughout, the book highlights the economic context of this law, the role of economic analysis in determining competition cases.