India: Entry into force with grace period of Competition (Amendment) Bill 2022 including merger control regulations

On 11 April 2023, The Competition (Amendment) Bill, 2023, including merger control regulations, entered into force following its signing into law and publication in the official gazette. In particular, the Bill amends 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 expands 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". The Central Government is required to issue a decree specifying the implementation date of the Bill.