India Seeks Antitrust Scrutiny of Global Merger and Acquisition Deals

India is a key overseas market for several global tech giants including Meta and Google. Now the South Asian nation is gearing up to have its voice heard for global M&A deals. From a report: New Delhi has proposed amendments to its Competition Act, 2002, to introduce a number of changes including requiring the permission of local watchdog (Competition Commission of India) for all overseas deals exceeding $252 million in value for firms with "substantial business operations in India." India, the world's second largest internet market that has drawn investments of tens of billions of dollars from Meta, Google and Amazon and venture capitalists including SoftBank, Sequoia and Tiger Global, has traditionally scrutinized deals based on asset size and not the transaction value. According to law firm Shardul Amarchand Mangaldas, Indian regulator approved over 700 fillings in the past decade alone. But things appear to be taking a shift and attempting to bring parity between India's position to those of China, U.S., and Europe.

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