FOUNDATION OF COMPETITION LAW IN INDIA THROUGH INTERPRETATION OF ARTICLE 38 AND ARTICLE 39
AUTHOR – AYUSH SHUKLA & SARVESH RAM TRIPATHI,
STUDENTS AT SCHOOL OF LAW JUSTICE & GOVERNANCE, GAUTAM BUDDHA UNIVERSITY GREATER NOIDA
BEST CITATION – AYUSH SHUKLA & SARVESH RAM TRIPATHI, FOUNDATION OF COMPETITION LAW IN INDIA THROUGH INTERPRETATION OF ARTICLE 38 AND ARTICLE 39, ILE MULTIDISCIPLINARY JOURNAL, 4 (2) OF 2025, PG. 392-397, APIS – 3920-0007 | ISSN – 2583-7230.
ABSTRACT
This article deals with the foundation of Competition Law In India and the fact that the Directive Principles Of State Policies envisaged in the Indian Constitution has laid down the foundation of the competition law in India. According to Article 38[1] and Article 39[2], Indian Constitution ensures the protection, promotion and welfare of people in all the sphere and control prosperity of wealth in the hands of some. Consequently, these two Articles of the Indian constitution resulted in the formation of Monopolies and Restrictive Trade Practices Act[3] (MRTP) in 1969 and Competition Act in 2002.[4]
Keywords – Welfare, Protection, Promotion, Mixed Economy, Monopolistic, Constituent Assembly, Common Good, Dominant Position, Competition, Anti – Competitive Agreements.
[1] India Const. art. 38
[2] India Const. Art. 39
[3] The Monopolies and Restrictive Trade Practices Act, No. 54 of 1969, India Code (1969).
[4] The Competition Act, No. 12 of 2003, India Code (2003).