The Competition Act, 2002
Administered Ministry: Ministry of Corporate Affairs
Act details
| Short title | The Competition Act, 2002 |
|---|---|
| Long title | An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto. |
| Act number | 12 of 2003 |
| Act year | 2003 |
| Enactment date | 13 Jan 2003 |
| Ministry | Ministry of Corporate Affairs |
| Jurisdiction | Central (Parliament of India) |
| Sections | 98 |
| Status | Not repealed |
| Last checked on India Code | 29 Oct 2026 |
| Source | India Code, Government of India |
Legislative history
Legislative History:
The Competition Act, 2002
Short Title The Competition Act, 2002
Act Number / Year 12 of 2003
Act ID (India Code) 200312
Presidential Assent Date January 13, 2003
Enforcement Date March 31, 2003
Nodal Ministry Ministry of Corporate Affairs
Precedent & Historical Context
1. Inadequacy of the MRTP Act, 1969:
o Post-1991 economic reforms (LPG policy), the command-and-control framework under the MRTP Act, 1969 proved inadequate to foster fair market competition and regulate cross-border corporate combinations.
2. The Raghavan Committee Report (2000):
o The High-Level Committee on Competition Policy and Law (headed by S.V.S. Raghavan) submitted its landmark report in May 2000 recommending the complete repeal of the MRTP Act and the establishment of a modern, proactive competition regulatory framework.
Parliamentary Trajectory & Phased Implementation
• August 6, 2001: Introduced in the Lok Sabha as The Competition Bill, 2001.
• 2001–2002: Scrutinized by the Department-Related Parliamentary Standing Committee
• Enactment: Received Presidential Assent on January 13, 2003.
• Enforcement: Enforced on March 31, 2003.
Source: Official Records of Parliament, India Code, and Competition Commission of India (CCI).