In the past 12 months, "competition" and "antitrust" have
established themselves as part of Asia's lexicon. Much of this
increased awareness has been thanks to China's controversial
Anti-Monopoly Law, but the region's other Bric country
India has also hit headlines with its Competition
(Amendment) Act. While China's law has been criticised for its
vagueness, India's might benefit from fewer specifics. The act
has been poorly drafted. Most notably, its merger review
provisions impose a cumbersome timeframe and broad notification
thresholds on companies.
As yet, the law has not damaged corporate activity. Its
saving grace has been that, despite passing in 2007, India's
law is still not fully in force. But this is about to change.
In May, the Competition Commission of India announced the
notification of the sections dealing with behavioural matters
such as cartels and abuses of dominance. And at the beginning