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ARTICLE · 01 JUNE 2023

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Analysis Of The Competition (Amendment) Act, 2023

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On 03.04.2023, the Upper House of the Indian Parliament (Rajya Sabha) has passed the Competition (Amendment) Bill,2023 (Bill No. 185-C of 2022) which tends to propose significant amendments...

IndiaAntitrust/Competition Law
Shruti Manchanda
Shruti Manchanda
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Introduction

On 03.04.2023, the Upper House of the Indian Parliament (Rajya Sabha) has passed the Competition (Amendment) Bill,2023 (Bill No. 185-C of 2022) which tends to propose significant amendments to the Competition Act,20021 in the two-decade-old antitrust law in India. The said Bill has received assent from the Hon'ble President of India on 11.04.2023 and is yet to be notified by the Ministry of Corporate Affairs for coming into effect.

Brief history of the Antitrust Laws in India

The Indian market is one of the largest markets in the world for both consumers and producers. For regulating the same, the Monopolies and Restrictive Trade Practices Act, 1969 was enacted with the objective to curtail the concentration of wealth in fewer hands and to limit monopolistic practices.

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