International Journal For Multidisciplinary Research

E-ISSN: 2582-2160     Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 7, Issue 3 (May-June 2025) Submit your research before last 3 days of June to publish your research paper in the issue of May-June.

Concept & Function of market and Role of Competition Law

Author(s) Mr. ABHINAV SHARMA, Prof. Dr. RAJINDER VERMA
Country India
Abstract Markets are central to every economy—they bring buyers and sellers together, shape prices, encourage innovation, and help allocate resources efficiently. However, without proper regulation, markets can become distorted by monopolies, unfair trade practices, and barriers that limit entry and consumer choice. To counter these risks, antitrust and competition laws have been developed across the world to ensure fairness and protect public interest. This paper is divided into three parts.
The first part explains the concept and function of markets, focusing on how they operate and the essential role competition plays in keeping them healthy. The second part traces the global evolution of antitrust laws, from their origins in the United States to their adoption in other parts of the world. The third part focuses on India’s experience, highlighting the shift from the Monopolies and Restrictive Trade Practices (MRTP) Act to the more progressive and enforcement-oriented Competition Act of 2002.
Together, these sections show how competition law has become a key tool in maintaining market balance and protecting consumer welfare—both globally and within India.
Field Sociology > Administration / Law / Management
Published In Volume 7, Issue 3, May-June 2025
Published On 2025-05-04
DOI https://doi.org/10.36948/ijfmr.2025.v07i03.43652
Short DOI https://doi.org/g9hsdk

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