Indian Constitution and Competition Law Regime: An Eternal Crossroad
Keywords:
Constitutional traditions, Indian Constitution, Market control, Competition law, Protection of National resources, Indian economyAbstract
The Indian Constitutional law traditions have been the bedrock for years and will be very crucial for the time to come in modern globalised India. A traditional constitutional approach has always been a grundnorm that protects and nourishes the economy of the nation through constitutional guarantees including power to control the markets. An eternal query about how do competition law regulations relate to constitutional traditions remains the curious province in the legal literature. This article contrasts the Indian and other prominent constitutional systems to demonstrate how some of their most notable features impacted the evolution of competition law systems from early times to the current forms. It specifically demonstrates how constitutional ideas about property rights, freedom of contract, and the role of government action in bringing about development influenced the merits of competition law regimes. Understanding certain facets of competition law regimes can be aided by comparing the
ways in which US and Latin American traditions view the function of the state in relation to property rights and market competition. Therefore, a comparative analysis of the relationships between competition law regimes and constitutional traditions is most warranted to give the nation its evergreen competition law and policy regime. This article presents a normative and jurisprudential enquiry into the constitutional realm of the competition law of new age India.
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