A COMPARITIVE ANALYSIS OF LEGISLATIVE FRAMEWORK OF COMPETITION LAW AND ABUSE OF DOMINANCE PROVISIONS IN US, EU AND INDIA

Abstract

Competition plays a vital role in the operation of markets. It fosters
innovation and injects energy and vitality into the economy. Efficiency and
delivering a wide range of high-quality products are crucial for a firm to stayahead of its competitors. However, competition often leads to rivalry,
causing competing firms to engage in unfair trade practices in order to
maximize profits and outperform each other. Competition law encompassesthe rules and regulations put in place to ensure a level playing field for allparticipants in the market, safeguard consumer interests, and holdaccountable those who abuse their power. Competition law goes by variousnames in different countries, such as antitrust law in the USA, anti-monopolylaw in China, and competition law in the EU and India. The objective of thisresearch is to analyse the legislative framework of competition laws andabuse of dominance provisions specifically in EU, US and India. Thedominance of an enterprise is determined by its capacity to operateindependently from market dynamics or to exert influence over itscompetitors or consumers in order to gain advantages in its favour. While itis not forbidden to hold a position of dominance, the act of abusing that statusis prohibited.1 The abuse of power has a detrimental impact on the market asit suppresses competition without allowing other firms a fair opportunity