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- W3005336906 abstract "Antitrust law has been a constant effort to balance the interests of two competing stakeholders: consumers and corporations. These categories are by no means monolithic, and the conflict of corporate interests is the very basis of market competition. Since the late 1800s, various legal systems began to adopt legal regimes to keep market competition fair.Every regulatory regime is constantly criticized for: being too broad; being too narrow; stifling the market; failing to adapt to changes in technology; allowing unscrupulous actors to continue to operate; failing to adequately regulate cartels; and in many other ways failing to live up to its unachievable goal of balancing perfectly the interests of its stakeholders.The Sherman Act of the United States, for example, adopted a broad approach, leaving much up to administrative and judicial discretion. The European Union adopts a similar approach, with some significant differences. The Indian regulatory regime, as exemplified in the Competition Act of 2002, upends these principles with narrow definitions, and comparatively limited enforcement capability.We argue that the lack of advancement in India’s antitrust policies is a result of flawed institutional principles and is not confined to failures of execution; and propose a plan of action to revamp competition law in India. In Part I, we focus on long-term solutions, and extract institutional principles from the US approach (the “Accountability Model”) and the EU approach (the “Expertise Model”) and advance the “Structured Accountability” approach as a particular solution to the Indian scenario, which combines the formal legal approach of the US system with the lenient participatory approach of the EU. In Part II, we recognise that the present Competition Act, 2002, has various and definite lacunae, and we identify and suggest additional measures with regard to the regulation of Cartels and the current issues with the Competition Commission of India’s (CCI’s) rule-making power." @default.
- W3005336906 created "2020-02-14" @default.
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- W3005336906 date "2019-05-30" @default.
- W3005336906 modified "2023-09-23" @default.
- W3005336906 title "Competition Law in India: The Case for Structured Accountability" @default.
- W3005336906 hasPublicationYear "2019" @default.
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