Indian Merger Control In 2025: Key Developments For Dealmakers

With more than 135 notifications being filed with the Competition Commission of India (CCI), 2025 was a particularly active period for merger control in India. It was the first full year under the revamped merger control framework introduced in late 2024, and the year witnessed the CCI rigorously applying the revised procedural and substantive standards. The CCI also issued guidance through its non-binding FAQs on Combinations, released in May 2025 (Combination FAQs), which provided much-needed clarity on critical issues such as the applicability of deal value thresholds and the assessment of control.

Against this backdrop of evolving jurisprudence, this article dissects the defining themes emerging from the CCI's and Indian courts' landmark decisions in 2025 that are set to influence not only the trajectory of the Indian merger control regime but also the strategies and structures adopted by businesses navigating complex transactions in the years ahead.