In the wake of globalisation, India has adopted revolutionary
measures of opening up of its economy, removing of controls and to
resort to liberalisation. It is, therefore, imperative that in
order to cope up with the reforms and to introduce the concept of
"Free markets" in the Indian economy, the Indian markets
should be geared up to face competition from within as well as
outside.
India's economic reforms, started in 1991, have thus brought
competition into the Indian markets and the benefits, both in terms
of faster economic growth and consumer welfare are clearly visible.
For the first time since independence, the ordinary Indian consumer
has become sovereign and enterprises have to compete for his
patronage, particularly in some sectors like telecommunication,
aviation, consumer electronics, automobiles etc. However, the
situation is not the same for all sectors like power, ports,
mining, etc. and the benefits of competition are yet to reach to
the consumers in
