India: Passed Competition (Amendment) Bill 2022 including merger control regulations

On 29 March 2023, The Competition (Amendment) Bill, 2023, including merger control regulations, was passed by the Lok Sabha, the lower house of India's parliament. The Bill proposes several amendments to the Competition Act 2002. In particular, the Bill aims to amend the defined circumstances under which an acquisition is counted as a combination that could have appreciable adverse effects on competition and therefore be voided. The proposed amendment would expand the definition of a combination to include any transaction involving an acquisition of control which is valued at more than INR 20 billion (around EUR 250 million), provided that the business being purchased in question has "substantial business operations in India".