An Introduction to Competition Commission In India

Published in Journal

Journal of Advances and Scholarly Researches in Allied Education [JASRAE] (Vol:12/ Issue: 2) DOI: 10.29070/JASRAE
Authors: Ramavtar Jalodia*,
Subjects: Multidisciplinary Academic Research

Year: Jan, 2017
Volume: 12 / Issue: 2
Pages: 991 - 993 (3)
Publisher: Ignited Minds Journals
Source:
E-ISSN: 2230-7540
DOI:
Published URL: http://ipublisher.in/p/89023
Published On: Jan, 2017

Article Details

An Introduction to Competition Commission in India | Original Article

Ramavtar Jalodia*, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research

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ABSTRACT:

Section 7 provides for the establishment of competition commission of India. Competition is a situation in a market, in which sellers independently strive for buyer’s patronage profits, sales or market share. It is a means of reducing cost and improving quality. It accelerates growth and development. It preserves economic and political democracy. It shall be the duty of the Commission to eliminate practices having adverse effect on competition, to promote and sustain competition, protect the interests of consumers and ensure freedom of trade carried on by other participants, in markets in India. The Commission may inquire into any matter related with anti-competitive agreement. Key words Competition, Agreement, Association, Person, MRTP etc.