Competition Act, 2002

The Competition Act, 2002, is an Indian law aimed at promoting fair business practices and healthy competition. It prevents practices like monopolies, cartel activities, and unfair trade practices that can harm consumers or other businesses. The Act ensures markets remain competitive, which helps keep prices fair and encourages innovation. It establishes authorities to investigate and penalize anti-competitive behavior, fostering an environment where businesses can compete ethically, ultimately benefiting consumers and the economy.