Indian Society of Artificial Intelligence and Law Technical Report Series
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India’s Position and Status Quo The Transformation of Competition Law in India Related to Disruptive Technology History of Competition Law Policy in India The concept of consumer welfare underpins competition rules. When evaluating suspected anti-competitive behavior, competition regulators should consider total consumer welfare and economic efficiency, according to the consumer welfare criterion. Monopolies and Restrictive Trade Practices Act, 1969 The MRTP Act, 1969, was India's first attempt at competition law. The Monopolies Inquiry Commission recommended passing the MRTP Act, which became law. To combat monopolistic practices, the MRTP Act was passed. The Act was founded on the premise that increasing a company's size would have a negative impact on competition. The Sachar Committee was formed in 1978 to examine the MRTP Act and make recommendations for improvements. The committee proposed that measures relating to unfair business activities, such as deceptive advertising, be included to safeguard consumers who have previously been exposed to such tactics. According to the MRTP Act of 1969, unfair trade practices, restrictive trade practices, and monopolistic trade practices were all outlawed. A restriction on the people or classes of people who can buy or sell products was covered, as was any arrangement that restricted or was likely to restrict them in any way. Since the Indian economy was liberalized, privatized, and went global in the 1980s and 1990s, this was a critical time for India. The new economic policy decreased the government's influence and opened the door for multinational corporations (MNCs) to
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