- The Act aims to promote and sustain competition in markets, protect the interests of consumers, and ensure freedom of trade carried on by other participants in markets in India. - It prohibits anti- competitive agreements, abuse of dominant position, and regulates combinations (acquisitions, mergers, and amalgamations) which cause or are likely to cause an appreciable adverse effect on competition within India. - The Competition Commission of India (CCI) was established under the Act to enforce its provisions.
When was the Competition Act enacted ?
Asked in APPSC Group II Prelims 2018 · Topic: Nature of Indian Economy (Evolution from Planned to Market-Oriented Economy)
More Economic Development questions
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