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With reference to the ‘Antitrust Laws in India’, consider the following statements:
- These are designed to promote fair competition and prevent monopolistic practices.
- The primary legislation governing antitrust issues is the Competition Act, 2002.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to the ‘Antitrust Laws in India’, consider ...
In the news: A recent investigation by the Competition Commission of India (CCI) revealed that food delivery giants Zomato and Swiggy violated antitrust laws by entering into exclusivity contracts with restaurant partners, which hindered competition in the market.
Statement 1 is correct: Antitrust laws in India, also referred to as competition laws, are intended to foster fair competition and prevent monopolistic practices that could harm consumers and the economy.
Statement 2 is correct:
- In India, the primary legislation governing antitrust matters is the Competition Act, 2002, which is enforced by the Competition Commission of India (CCI).
- The Act aims to prevent practices that negatively affect competition, promote and maintain competition in markets, protect consumer interests, and ensure the freedom of trade.
Community Answer
With reference to the ‘Antitrust Laws in India’, consider ...
Overview of Antitrust Laws in India
Antitrust laws, also known as competition laws, are crucial for maintaining a healthy economic environment. In India, these laws aim to promote fair competition and prevent monopolistic practices that can harm consumers and the economy.
Key Statements Analyzed
1. Promotion of Fair Competition
- Antitrust laws in India are indeed designed to foster a competitive market landscape.
- They aim to prevent anti-competitive agreements, abuse of dominant positions, and regulate mergers that may adversely affect competition.
2. Primary Legislation
- The primary legislation that governs antitrust issues in India is the Competition Act, 2002.
- This Act replaced the Monopolies and Restrictive Trade Practices Act, 1969 and established the Competition Commission of India (CCI) to oversee and enforce competition laws.
Conclusion
Both statements provided in the question are accurate:
- Antitrust laws promote fair competition and mitigate monopolistic practices.
- The Competition Act, 2002 serves as the cornerstone of antitrust legislation in India.
Therefore, the correct answer is option 'C': Both statements 1 and 2 are correct. This emphasizes the importance of legal frameworks in ensuring a balanced and competitive market in India.
Antitrust laws, also known as competition laws, are crucial for maintaining a healthy economic environment. In India, these laws aim to promote fair competition and prevent monopolistic practices that can harm consumers and the economy.
Key Statements Analyzed
1. Promotion of Fair Competition
- Antitrust laws in India are indeed designed to foster a competitive market landscape.
- They aim to prevent anti-competitive agreements, abuse of dominant positions, and regulate mergers that may adversely affect competition.
2. Primary Legislation
- The primary legislation that governs antitrust issues in India is the Competition Act, 2002.
- This Act replaced the Monopolies and Restrictive Trade Practices Act, 1969 and established the Competition Commission of India (CCI) to oversee and enforce competition laws.
Conclusion
Both statements provided in the question are accurate:
- Antitrust laws promote fair competition and mitigate monopolistic practices.
- The Competition Act, 2002 serves as the cornerstone of antitrust legislation in India.
Therefore, the correct answer is option 'C': Both statements 1 and 2 are correct. This emphasizes the importance of legal frameworks in ensuring a balanced and competitive market in India.
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With reference to the ‘Antitrust Laws in India’, consider the following statements: These are designed to promote fair competition and prevent monopolistic practices. The primary legislation governing antitrust issues is the Competition Act, 2002.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the ‘Antitrust Laws in India’, consider the following statements: These are designed to promote fair competition and prevent monopolistic practices. The primary legislation governing antitrust issues is the Competition Act, 2002.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the ‘Antitrust Laws in India’, consider the following statements: These are designed to promote fair competition and prevent monopolistic practices. The primary legislation governing antitrust issues is the Competition Act, 2002.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the ‘Antitrust Laws in India’, consider the following statements: These are designed to promote fair competition and prevent monopolistic practices. The primary legislation governing antitrust issues is the Competition Act, 2002.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the ‘Antitrust Laws in India’, consider the following statements: These are designed to promote fair competition and prevent monopolistic practices. The primary legislation governing antitrust issues is the Competition Act, 2002.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the ‘Antitrust Laws in India’, consider the following statements: These are designed to promote fair competition and prevent monopolistic practices. The primary legislation governing antitrust issues is the Competition Act, 2002.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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