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Business Environment by A. C. Fernando

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31

THE MRTP AND THE COMPETITION ACTS

In this chapter, we study the MRTP Act and the Competition Act, enacted by the Government of India to regulate Indian industry to serve the overall interests of the country’s economy. We will learn the genesis, objectives, salient features and scope of both these acts and the consequences of the post-liberalization developments. We compare the two acts to highlight the differences between the two. A clear grasp of these two Acts is important to understand and appreciate the need for government regulation in the industry.

A monopoly is said to exist where at least one person or a company controls one-third of a local or national market. In many countries, the attitude of the public towards complete and ...

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