A new competition law has been adopted in India, taking into account the dynamic trends observed in the new market scenario. One of the main objectives of the Act was to change India`s economic policy, reduce trade barriers and impose trade-friendly changes. All of this would ensure fair competition in the market, which would both benefit the consumer and ensure the proper functioning of the market while not proving arbitrary. This was done to ensure that agreements made by commercial enterprises were not anti-competitive. Anti-competitive agreements are agreements between competitors designed to prevent, restrict or distort competition. Section 34 of the Competition Act prohibits anti-competitive agreements, decisions and practices. Section 3 (1) of the Act provides for a general prohibition on the conclusion of agreements that cause or may cause an AAEC in India: the law of Article 3 of the Act also prohibits any agreement between companies which: The section provides a derogation from joint ventures concluded by the parties when they increase the efficiency of production. Supplying, distributing, storing, purchasing or controlling goods or services. Section 3, paragraph 1, of the Act cannot be invoked independently and must necessarily be used with section 3, paragraph 3, in the context of horizontal agreements or section 3(4) in relation to vertical agreements. It should be noted, however, that paragraph 3, paragraph 1, is not only a suggestive provision, but is essentially the “gender” of the act.
It should also be invoked independently to serve the interests of consumers and also cover various other types of agreements that may not fall under the auspices of Section 3, paragraph 3 or 3, paragraph 4. The Competition Act expressly prohibits any agreement that falls within one of the above categories. Subsection (2) expressly prohibits the aforementioned undertakings from entering into agreements for the production, supply, distribution, purchase or control of goods or services that could cause damage or have significant negative effects on competition in India. The CEAA can be defined as a phenomenon found in one of the provisions of this Act. It has negative effects on market players and healthy competition in the market. Section 3 is broad enough because it encompasses not only the expressly mentioned agreements, but also the tacit agreements within its jurisdiction. Subsection (1) identifies the features contained in this section. These include agreements between: although the Competition Act 2002 does not recognize the classification of vertical and horizontal anti-competitive agreements, the language of subsections 3 and (4) indicates that the former relate to horizontal agreements, while the latter are vertical agreements.