Tag: EU Competition law

Comparative Analysis of Cartel Laws of India and European Union

A cartel is a group of similar, independent companies which join together to fix prices, to limit production or to share markets or customers between themselves. An important dimension in its definition is that it requires an agreement between competing enterprises, not to compete, or to restrict competition. Therefore, the objective of a cartel is to raise price above competitive levels, resulting in injury to consumers and to the economy. This is why cartels are illegal under EU competition law and why the European Commission imposes heavy fines on companies involved in a cartel. A comparative analysis of the EU competition law with the Indian law would provide us with a better perspective on the issue.