The Competition (Amendment) Bill, 2023 (Bill)
was passed by the Lok Sabha on March 29, 2023. The Bill, previously
introduced in the Lok Sabha on August 5, 2022, was then referred to
the Parliamentary Standing Committee on Finance
(PSC) which presented its report on December 13,
2022, setting out its recommendations on certain key
amendments.
In addition to addressing some key learnings from the past
fourteen years of enforcement, the amendments to the Competition
Act, 2002 (Competition Act) also seek to
strengthen the Competition Commission of India
(CCI) as it continues its tryst with markets
driven by technology and data. Some of the key changes introduced
by the Bill, along with potential implications, are highlighted in
this article.
