Why laws, rules and regulations of India's competition regime need a revamp

The review panel must push for greater clarity on regulatory front, more CCI benches and expeditious disposal of cases, say experts

On September 30, the central government set up a nine-member Review Committee to revisit the law, rules, and regulations of the country’s competition regime. The Committee has three months to submit its recommendations, a short span for a review of such a magnitude. 

Given the duration of the enforcement of this law — about 10 years, experts believed it was a good time to review the law. Businesses, meanwhile, pitched for greater certainty in regulations and rewarding a culture for compliance. 

The enforcement of the competition regime began in May 2009, after the Competition Commission of India (CCI) was set up. Avirup