This study critically examines cartels and their legal ramifications within emerging markets. Employing a systematic literature review (SLR) methodology, we utilised the TCCM protocol to synthesise literature and conduct bibliometric keyword analysis. The study primarily focuses on the Competition Act, 2002, evaluating its efficacy in addressing deficiencies of the MRTP Act, 1969, and identifying gaps in the new legislation. Findings from selected papers are presented, along with proposed suggestions derived from each, offering insights into practical measures to mitigate the negative impact of cartels. Notably, the SLR contributes by evaluating the results of each paper, identifying gaps, and also highlighting practical deficiencies in the present research. It proposes solutions to address various hurdles associated with different types of cartels and enhance the understanding of regulatory challenges in emerging markets. This study provides valuable insights for policymakers and researchers navigating complexities in cartel governance, contributing to the ongoing discourse.