The Union Cabinet has approved the Competition (Amendment) Bill,
2022, which will be introduced in the Indian Parliament for the
monsoon session.
The Competition Commission of India (CCI), India's antitrust
watchdog agency, will have greater freedom, and accountability as
per the amended provisions of the Bill. The new Bill seeks to
streamline merger and acquisition (M&A) approvals, extend the
definition of anti-competitive agreements, and aims to reduce
litigation in this field. Additionally, it aims to toughen up the
penalties for violations of the competition legislation.
Proposed changes introduced by Competition (Amendment) Bill,
2022:
- Expansion of the definition of “Relevant Product
Market”
