Please give five real-life examples in India for the terms monopoly, monopolistic competition, and oligopoly. Detailed examples which are still existing in India would be much appreciated. 

Examples of monopolies still in existence in India up to this day are Hindustan Aeronautics Limited, or HAL, and Indian Railway Catering and Tourism Corporation, or IRCTC. Examples of monopolistic competition companies in India are Ador Multiproducts Limited and Dabur India Limited. Examples of oligopolies in India are JSW Steel, TATA Steel, and SAIL.

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A monopoly is an economic market structure in which a single individual or a corporation is the only seller of unique goods and services; the seller has no other competitors and enjoys the privilege of setting up the price. Examples of monopoly in India are:

  1. Indian Railway Catering and Tourism Corporation (IRCTC), which used to be a fully state-owned entity until 2019, when it was listed on the National Stock Exchange (the majority of the shares are still owned by the government).
  2. Bharat Heavy Electricals Limited (BHEL), the largest engineering company in India, and one of the largest manufacturing companies globally.
  3. Marico Limited, one of India's largest beauty and wellness companies.
  4. Coal India Limited, the biggest coal-manufacturing company in India.
  5. The Hindustan Aeronautics India Limited, the largest player in the Indian aviation industry.

Monopolistic competition is a market structure in which many firms and companies are competitors in the market; they sell goods and services that are similar but aren't perfect substitutes. Examples of monopolistic competition in India are:

  1. The hotels—the Leela Palace Udaipur, for instance, is one of the best hotels in India.
  2. The restaurants—the Bombay Canteen in Mumbai, for example, is often listed as one of the finest restaurants in India.
  3. The Indian banking system.
  4. The clothing industry—Vardhman Textiles Ltd., for instance, is one of the largest textile manufacturers in India.
  5. Taxi services—Bharat Taxi and Go India Taxi services are among the top-rated taxi services in the country.

Oligopoly is a market structure in which a few companies dominate a certain market and/or industry. Examples of oligopolies in India are:

  1. The automotive market, which is dominated by a few companies—Maruti Suzuki, Tata Motors, Hyundai India, and Mahindra & Mahindra.
  2. Steel manufacturers, such as Steel Authority of India Limited (SAIL), one of the largest steel-producing companies in India.
  3. Mobile telecom operators—Jio, Airtel, Vi, and BSNL are the companies that dominate the market.
  4. Aluminum manufactures—Hindalco, NALCO, PG Foils, and Sacheta Metals are among the largest aluminum-making companies in India.
  5. The soft drink industry.
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A monopoly is a firm that owns one hundred percent of the market. Since there are no competitors, the monopoly makes supernormal profits in the short and long run.

In India, monopolies are owned by the government. The IRCTC manages the railway network in India. On the other hand, HAL manufactures planes for the Indian military. Monopolies exist in industries that are capital intensive with multiple barriers to entry. For example, investors have to invest billions of dollars in the railway sector if they want to compete with IRCTC. Another barrier to entry is laws that make it difficult for private investors to enter the market.

A monopolistic competition market doesn’t have any barriers to entry. Investors can easily set up shop and start doing business. Examples of monopolistic competition companies are Ador Multiproducts and Dabur, which produce household items like detergents and sanitizers. Companies differentiate their products through packaging and brand name. There is also a lot of advertising in a monopolistic competition market. Ador and Dabur advertise their products everywhere. You’ll see their products on billboards, television, and newspapers.

In an oligopolistic market, more than two firms serve the market. Since the firms are few, they come together to control the price and supply of the commodity. This usually happens behind closed doors, because the government considers such behavior unethical. Since TATA Steel, JSW, and SAIL own the majority of the steel market, they have power over how its priced and distributed.

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The primary monopolies in India are government monopolies of utilities and transportation. One specific example is the government monopoly of rail transportation through Indian Railway: Lifeline to the Nation (IR). Interestingly, IR has recently proposed to change its method of purchasing electrical power from energy suppliers to a "bidding process at economical tariff." A monopoly has no competitor, there is no substitute, and there is restricted entry to the market. In the case of IR, entry is restricted by the government.

A monopolistic competition is represented by the synthetic fiber production market in India. While there are many firms that manufacture synthetic fiber, such as Sky Industries and Sumeet Ind, Zenith Fibres Ltd is the only one to produce "Polypropylene Staple Fibre (PPSF) used as raw material in 100% PP Yarn. ... and they are the only manufacturer of this product in India with 100% market share" (Rajesh Bihani). This exclusivity of product positions Zenith in a monopolistic competition.

An oligopoly is a market in which a few powerful firms dominate over minor entrants. In India, the airways represent an oligopoly, with a few competitors having the greatest market shares. Two of the top airlines are IndiGo and Air India and, while there are other airlines that provide specialized services, the major competitors rule the industry relevant to domestic air transportation market share in India ("AIRLINE COMPETITION" 2014):

  • IndiGo airline: 29.5% market share
  • Jet Airways (India): 22.5% market share
  • Spike Jet: 19.8% market share
  • Air India (Domestic): 19.1% market share
  • Go Air: 9.0% market share
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