“There are 30 Indian diamond traders in prison in China right now. They went there to seek their fortune. And because of a tiny quirk and the decision of a particular tax official, they were classified as smugglers. I think it’s fair to say we have a different approach to the law than some other countries.”
So began the impassioned description of India’s competition law by Kaushal Kumar Sharma, director general of the Indian Competition Commission, at IFLR’s M&A Forum in Hong Kong on March 4.
“After a couple of days at...