INDIA NEEDS A GENUINE ANTI-TRUST LEGISLATION
PRESENT REGIME ONLY PROMOTES MONOPOLIES
2021-01-02 08:47
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The erstwhile Monopolies and Restrictive Trade Practices Commission was denounced by all shades of liberal opinion as an integral part of licence raj. However, despite the expressed intent of preventing monopolies, as the entity’s name suggested, India’s major corporate houses flourished as monopolies under its regime. Apparently, it restricted only new players to enter their preferred business, rather than obstructing the expansion of existing monopolies to expand into any sphere of activity at will.