The Competition Act, 2002 (“Act”) is the primary legislation for India’s modern competition law, which was enacted to ensure businesses compete fairly. Its aim is no company should abuse its dominance in the market and all market players get a fair chance. Competition Commission of India (“CCI”) is the anti-trust regulator set up by the Act to curb any anti-competitive conduct and promote ethical market practices. Over the years, the Indian market has seen a paradigm shift where innovative and tech-driven business models are emerging and existing businesses are moving towards digitalization. Responding to the evolving market and digital environment, the Government introduced the Competition (Amendment) Act, 2023 (“Amended Act”) in April 2023. Effective September 10, 2024, certain provisions of the Amended Act and new CCI (Combinations) Regulations, 2024 (“New Regulations”) were implemented. These changes broadly include additional deal value threshold criteria, expedited approval timelines, revised scope of control, leniency provision for cartels and others. The Government also introduced three merger control rules[1] which amplified certain provisions.

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The Competition Act 2023 And Merger Control for New-Age Markets