India: Cartels, Monopolies

Competition law in India starts with a simple idea: free, fair markets work better for everyone. They push companies to be efficient, help consumers, and keep innovation alive.

Competition law, or antitrust law, is at the heart of any modern market economy: it ensures that markets work without their beneficial workings being compromised by monopoly power, cartelization, or exclusionary practices.

In a climate where every unsuccessful bidder is quick to cry "cartel", the Gauhati High Court has reaffirmed the narrow corridor for judicial interference in public tender collusion.

The Ministry of Corporate Affairs, via notification dated February 20, 2024, has brought into force the amendments proposed to Section 46 of the Act.

The Competition Act, 2002 ("Act") is the central statute which, through various provisions, aims to curb practices that affect competition adversely. Specifically, it prohibits anti-competitive

India implemented substantive provisions relating to anticompetitive agreements and abuse of dominance in 2009 and merger control/ combination regulations in 2011.

Deals with a transaction value of more than Rs 2,000 crore will require prior approval.

The (Indian) Competition Act, 2002 (Act), was enforced in a staggered manner between 2009 and 2011.

The Competition (Amendment) Act, 2023, which seeks to amend certain provisions of the Competition Act, 2002 received the assent of the President of India on April 11, 2023. This note provides an overview of the key changes to the Competition Act provided in the Competition (Amendment) Act, 2023.