The Indian competition law regime is a nascent regime. Competition is a driving force in a global economy. Free and fair competition is one of the pillars of a proficient market economy. Competition law enforcement exists to preserve the integrity of free markets, undistorted by anti-competitive conduct. More vigorous competition has two main benefits: first, it protects consumers from companies that may, at times, seek or use market power to raise prices or reduce outputs. Second, it promotes productivity growth, largely by imposing stronger rivalry among companies to succeed in gaining the business of customers, which in turn leads to faster economic growth.
The past decades have witnessed a rapid globalization of economic activity which has significantly changed the outlook of the world economy. Globalization results in large economic benefits but also raises cross-border challenges for competition authorities, who must respond to anti-competitive conduct and mergers. The objectives of competition policy in India are the creation of an active competitive environment and to aid and abet the process of creating globally competitive enterprises with enhanced investment and technological capabilities.
In view of these imperative issues and key developments in the Competition Law, ASSOCHAM is organizing, 3rd International Conference on “Competition Law -Successes, Challenges and Reforms” on Saturday, 2nd May 2015 at New Delhi, India.
