Competition commission of india in the era of liberalization and globalization

The Competition Act, 2002 was passed with a view to prohibit anti-competitive agreements, abuse of dominant position by enterprises or groups and regulation of combinations (acquisition, acquiring of control and merger or amalgamation) in the era of liberalization and globalization to administer present market in India. By the enactment of this Act, Indian Government shifted the view of curbing monopolies to promoting competition. The Competition Commission of India is established under the Competition Act. It is established to fulfill the objectives of the Competition Act. It is the enforcement agency, which works under the Competition Act. The Competition Commission of India was constituted to protect the interests of consumers, ensure freedom of trade carried on by other participants in markets in India, eliminate practices having adverse effect on competition, promote and sustain competition, undertake competition advocacy, create public awareness and impart training in competition issues. It has been probing several sectors especially real estate, information technology, entertainment, cement, petroleum, steel, travel industry, public procurement, software, healthcare and education. In this paper, the functioning of the Competition Commission of India is discussed. The doctrinal as well as non-doctrinal research methodology is used to complete this paper.