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ABSTRACT Deceptive advertising practices have become a ubiquitous issue in today's corporate world, significantly impacting both consumers and competitors. This abstract investigates the varied nature of deceptive advertising and its far-reaching ramifications, shedding insight into its impact on these two important market parties. Deceptive advertising strategies range from making false promises and utilizing misleading visuals to omitting important information. The fundamental goal of such practices is to persuade or influence customers into making purchases based on incorrect or exaggerated information. This, in turn, can have a variety of negative effects on consumers, such as financial losses, unhappiness, and, probably most importantly, a breakdown of trust. Deceptive advertising not only misleads consumers but it also undermines their trust in the marketplace, eroding the overall integrity of firms. Deceptive advertising provides distinct obstacles for competitors in the same business. When competing with corporations that engage in deceptive practices, honest and ethical businesses frequently find themselves at a significant disadvantage. These unscrupulous competitors can obtain an unfair advantage by luring clients with promises they cannot keep. In such cases, consumers who fall victim to deceptive advertising may be initially enticed to the fraudulent company, only to be disappointed when their expectations are not satisfied. This not only leads to a loss of trust but it can also harm the reputation of all enterprises functioning in the field. Furthermore, deceitful advertising adds to the erosion of customer confidence, resulting in widespread skepticism. In a climate of widespread deception, customers begin to question the veracity of all advertising claims, making it increasingly difficult for honest enterprises to win and maintain public trust. Competitors that follow ethical advertising practices face the difficult task of overcoming this widespread skepticism, which can stymie corporate growth and success. Deceptive advertising also promotes unethical competition since competitors may feel driven to use similar deceptive strategies to keep up with dishonest enterprises. The temptation to compete with businesses that use misleading advertising methods might result in a "race to the bottom," in which organizations increasingly engage in unethical practices in order to preserve a competitive advantage. This article will follow a descriptive method of research to study the legal frameworks of deceptive advertisements in India and their impact on consumers and competitors.