CCI Chairperson Ravneet Kaur Speaks at IBA Conference on Mergers and Acquisitions in India

The Chairperson of the Competition Commission of India (CCI), Ms. Ravneet Kaur, presented a keynote address at the International Bar Association (IBA) Corporate and M&A Law Committee conference. The conference, held on April 3-4, 2025, focused on ‘Mergers and Acquisitions in India: a key engine to the USD 30 trillion goal’ at the Taj Mahal Palace in Mumbai.

Ms. Kaur addressed the attendees on the topic of ‘Antitrust/competition policy and enforcement,’ shedding light on India’s journey towards becoming a 30 trillion-dollar economy by 2047. She emphasized India’s rapid growth as a developing nation with a substantial consumer base and outlined various governmental priorities, including enhancing agricultural productivity, workforce scalability, energy security, sustainability, and climate change.

In terms of climate change, Ms. Kaur highlighted India’s commitment to renewable energy sources and sustainable energy usage. She emphasized that the primary objective of the Competition Act, 2002, was to promote the economic development of the country. Ms. Kaur stressed the vital role of the CCI in facilitating economic development by ensuring a competitive and healthy market environment, particularly concerning mergers and acquisitions (M&A).

M&A was identified as a crucial method for economic growth, providing an efficient pathway for business expansion and innovation by facilitating synergies and resource optimization. Ms. Kaur discussed recent regulatory changes in India and highlighted the implications of the Competition (Amendment) Act, 2023, on antitrust aspects, such as settlement commitments, leniency plus frameworks, and penalties.

She also touched upon modifications in the M&A landscape, including the introduction of the deal value threshold for notifying combinations. The objective behind this addition was to prevent exploitative acquisitions from escaping the competition regime due to the rise of India’s vibrant start-up ecosystem and evolving business models. In this context, Ms. Kaur underscored the significance of the CCI’s focus on substance over form, clarity in provisions, and enhanced transparency to align with global best practices while acknowledging India’s unique circumstances.

With regards to M&A regulations, Ms. Kaur highlighted a trust-based approach, urging stakeholders, including M&A lawyers, businesses, and law firms, to provide comprehensive filings with factual details, fostering trust and cooperation. She expressed concerns regarding the misuse of artificial intelligence (AI) for bid rigging but acknowledged the importance of collaborative efforts to address potential anti-competitive practices stemming from AI adoption in various economic sectors.

In conclusion, Ms. Kaur reaffirmed the CCI’s commitment to supporting India’s economic growth towards a USD 30 trillion economy and encouraged stakeholders to engage with the CCI on pertinent issues.