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Historical Account of MRTP and
what was the rational of replacing
MRTP by Competition Act
Presented By:
Karan Verma
(167521)
INTRODUCTION
• The monopolistic and restrictive trade practice
act,1969, was enacted to ensure that the
operation of the economic system does not
result in the concentration of economic power
in hands of few.
• The act came into force from 1st june, 1970,
and has been amended in 1991.
HISTORY
• 1947- 1969: Regimented and strict system of
government controls.
• 1969: Monopolies and Restrictive Trade Practices
Act (MRTP Act) legislated.
• 1999: Expert Group on interaction between Trade
and Competition Policy recommended new
competition law to “promote fair competition and
control (eliminate) anticompetitive practices” in the
market.
• 2000: GOI High Level Committee on Competition
Law and Policy provided a draft Competition law.
• 2002:The Competition Act legislated.
EVOLUTION
• NCMP commits to greater effort towards
increasing competition and a competitive
environment – broad basing development
• 2005: GOI asks CCI to develop consultation paper
on National Competition Policy .CCI establishes
Advisory Committee to develop draft National
Competition Policy.
• 2006: Planning Commission establishes Working
Group on Competition Policy (for 11th Plan –
2007- 12).
1991 AMENDMENTS TO MRTP ACT
• size concept given up
• curbs on growth of monopoly companies
deleted
• merger control removed
• more emphasis on prohibition of rtps, utps
and MRTP in sum, big becoming bigger is no
more ugly
AIMS OF REPLACEING
• Eliminate practices having adverse effect on
competition.
• Promote and sustain competition
• Protect interest of consumers
• Ensure freedom of trade carried on by other
participants
Case study Colgate Palmolive (India)
Ltd. vs MRTP Act,1969
• Highlights:
“Colgate Trigard Family Good Habits Contest”
The commission alleged it to be:
An unfair trade practice causing injury and loss
to the consumers (of tooth brushes) and A
restrictive trade practice eliminating
competition among the manufacturers of tooth
brushes
Colgate Palmolive (India) Ltd. won the case!
CONCLUSION
The MRTP Act, besides adversely affecting
economic growth, blunted Indian companies’
ability to grow, consolidate and improve
competitiveness. This has had a very dampening
effect on their global competitiveness.
THANK YOU

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MRTP Act

  • 1. Historical Account of MRTP and what was the rational of replacing MRTP by Competition Act Presented By: Karan Verma (167521)
  • 2. INTRODUCTION • The monopolistic and restrictive trade practice act,1969, was enacted to ensure that the operation of the economic system does not result in the concentration of economic power in hands of few. • The act came into force from 1st june, 1970, and has been amended in 1991.
  • 3. HISTORY • 1947- 1969: Regimented and strict system of government controls. • 1969: Monopolies and Restrictive Trade Practices Act (MRTP Act) legislated. • 1999: Expert Group on interaction between Trade and Competition Policy recommended new competition law to “promote fair competition and control (eliminate) anticompetitive practices” in the market. • 2000: GOI High Level Committee on Competition Law and Policy provided a draft Competition law. • 2002:The Competition Act legislated.
  • 4. EVOLUTION • NCMP commits to greater effort towards increasing competition and a competitive environment – broad basing development • 2005: GOI asks CCI to develop consultation paper on National Competition Policy .CCI establishes Advisory Committee to develop draft National Competition Policy. • 2006: Planning Commission establishes Working Group on Competition Policy (for 11th Plan – 2007- 12).
  • 5. 1991 AMENDMENTS TO MRTP ACT • size concept given up • curbs on growth of monopoly companies deleted • merger control removed • more emphasis on prohibition of rtps, utps and MRTP in sum, big becoming bigger is no more ugly
  • 6. AIMS OF REPLACEING • Eliminate practices having adverse effect on competition. • Promote and sustain competition • Protect interest of consumers • Ensure freedom of trade carried on by other participants
  • 7. Case study Colgate Palmolive (India) Ltd. vs MRTP Act,1969 • Highlights: “Colgate Trigard Family Good Habits Contest” The commission alleged it to be: An unfair trade practice causing injury and loss to the consumers (of tooth brushes) and A restrictive trade practice eliminating competition among the manufacturers of tooth brushes Colgate Palmolive (India) Ltd. won the case!
  • 8. CONCLUSION The MRTP Act, besides adversely affecting economic growth, blunted Indian companies’ ability to grow, consolidate and improve competitiveness. This has had a very dampening effect on their global competitiveness.