Abstract
Competition law has been relatively under-developed in India. The need for the Competition Act,2002 was felt because of the inadequacy of the MRTP Act to deal with the contemporaneous issues pertaining to cartels, predatory pricing and abuse of dominant position. The Indian markets are fast evolving and therefore the need for a stringent law to protect the interests of the competitors, buyers and customers is acutely felt. The substance of the definition is that a dominant enterprise is one that has the power to disregard market forces, that is, competitors, customers and others and to take unilateral decisions. Dominant position in the relevant market enables operation that is independent from the prevailing forces. The enterprise is in a position to affect its competitors, consumers or the relevant market in its favour and therefore can appreciably affect the relevant market.
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