Competition Laws in India

India’s pursuit of globalization has resulted into a liberalised economy post 1991. The New Economic Policy of 1991 which brought about Liberalisation, Privatisation and Globalization of the Indian Economy, progressively widened the space for market forces and reduced the role of Government in business and various other economic sectors. It was realised that a new competition law was also called for because the existing Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) had become obsolete in certain respects and that now there was a need to shift focus from curbing monopolies to promoting competition in the Indian market.  This paper provides a brief overview of the Competition Law In India.