The ____practices act states that governments have certain rights to monitor other countries' trade practices to ensure fair competition

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Detailed Solution

The monopolies restrictive trade practices act states that governments have certain rights to monitor other countries' trade practices to ensure fair competition. The act, enacted in 1969 and amended in 1979, allows the minister for trade and industry the power to prohibit imports and exports under certain conditions. It is a good example of an act that gives the state some control over international trade. The act was enacted in 1969 to counter unfair trade practices that led to monopoly control of local industries, such as iron and steel. This act is lenient in that its policies are not enforced by law where they are needed the most.

Watch 3-min video & get full concept clarity

tricks from toppers of Infinity Learn

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

🔥 Start Your JEE/NEET Prep at Just ₹1999 / month - Limited Offer! Check Now!

Get Expert Academic Guidance – Connect with a Counselor Today!

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET