1 Pre-Independence Laws: PRIVATE CAPITAL Constitution (1950); IDR Act (1951); IPR (1956); MRTP Act, 1969; State Ownership Reserved Lists & Licensing Post 1991 PRIVATE CAPITAL & PPP Economic Regulation Private Ownership Reasonable return on investt. Economic regulation Level playing field Single window approach: FIPB, NHAI Act, TRAI Act, Electricity Act, SEZ Act, etc Evolution of Governing Framework

2 MRTP Act vs Competition Act MRTP Act 1.Adjudicatory body 2.Deeming provisions 3.Pre-economic analysis a discretion 4.Mergers are not within the domain 5.Size of enterprises is frowned upon 6.Complainants are limited 7.International co-operation and Effects doctrine are not available 8.Law could not be promoted 9.Public interest 10.Others [Role of DG, absence of Leniency programme etc.] Competition Act (CA) 1.Market Regulator 2.Rule of reason 3.Pre-economic analysis is mandatory 4.M&A is one of the important functions 5.Size is not bad but its abuse is 6.Except Defence, Space & Currency – all commercial activities are within the ambit of the Law 7.They are available 8.Statutory advocacy role 9.More filters 10.Others [enhanced role of DG, availability of Leniency etc.]

3  Dominant position  Ability to operate independent of competitive forces prevailing in the relevant market  Affect its competitor/consumers/relevant market  Abuse of dominant position  Imposing unfair or discriminatory conditions  Predatory pricing, limit production, deny market access  Contracts contingent on supplementary obligation  Use dominance in one market to move into or protect other relevant market (product & geography) Abuse of Dominance RULE OF REASON … TARGET ABUSE, NOT DOMINANCE

4  Market share of the enterprise  Size or Resources of enterprise  Size & importance of competitors  Economic power of enterprise  Vertical integration of enterprises or their network  Dependence of consumers  Market structure & size of market  Entry barriers  Monopoly/Dominance due to statute/govt. sanction  Social obligation/costs  Relative competitive advantage: development vs adverse effect on competition Dominance FACTORS IN THE RELEVANT MARKET

5  Cartel  Association of producers, sellers, distributors, traders or service providers who  By inter-se agreement limit, control or attempt to limit/control the production, sale or price of or trade in goods /services Cartels