By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: India wants a seat at the global M&A table – TechCrunch
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > General > India wants a seat at the global M&A table – TechCrunch
General

India wants a seat at the global M&A table – TechCrunch

admin Published August 5, 2022
Last updated: 2022/08/05 at 8:04 PM
Share
SHARE

[ad_1]

India emerged as a key overseas market for several global tech giants in the past decade as Meta, Google and Amazon aggressively raced to find the next and perhaps the last great growth geography. Now the South Asian nation is looking to leverage its vast reach to influence merger and acquisition deals overseas. 

New Delhi proposed amendments to its Competition Act, 2002 Friday 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.

“There has been a significant growth of Indian markets and a paradigm shift in the way businesses operate in the last decade. In view of the economic development, emergence of various business models and the experience gained out of the functioning of the Commission, the Government of India constituted Competition Law Review Committee, to examine and suggest the modifications in the said Act,” the bill published Friday afternoon said.

The Competition (Amendment) Bill, 2022, has proposed the following changes:

(a) changes in certain definitions like “enterprise”, “relevant product market”, “Group”, “Control”, etc., to provide clarity;
(b) broadening the scope of anti-competitive agreements and inclusion of a party facilitating an anti-competitive horizontal agreement under such agreements;
(c) provisions for reduction of time-limit for approval of combinations from two hundred and ten days to one hundred and fifty days and forming a prima facie opinion by the Commission within twenty days for expeditious approval of combinations;
(d) provisions for “value of transaction” as another criteria for notifying combinations to the Commission;
(e) limitation period of three years for filing information on anti-competitive agreements and abuse of dominant position before the Commission;
(f) appointment of the Director General by the Commission with the prior approval of the Central Government;
(g) introduction of Settlement and Commitment framework to reduce litigations;
(h) incentivising parties in an ongoing cartel investigation in terms of lesser penalty to disclose information regarding other cartels;
(i) substitution of a provision which provides for penalty up to rupees one crore or imprisonment up to three years or both in case of contravention of any order of the National Company Law Appellate Tribunal with provision for contempt;
(j) issuance of guidelines including on penalties to be imposed by the Commission.

The move comes at a time when bankers in India are brokering record number of mergers and acquisitions even as deal activity slows elsewhere. India saw deals worth over $82 billion complete or seeking approval in the quarter that ended in June, according to Bloomberg. The dealflow in India is projected to grow even further.

“India is a super important market for sovereign funds, private equity and global pension funds, who are taking an increasingly important role in the number of M&A transactions that are currently happening,” said Kaustubh Kulkarni, heading of investment banking in India for JP Morgan and Southeast Asia, in a recent TV interview.

[ad_2]

You Might Also Like

Revyze is building the TikTok of educational videos

YouTube ends the test asking users to get a premium subscription to watch 4K videos

Who is going to buy Cadillac’s $300,000 hand-built EV?

Don’t let today’s software rally improve your mood

Daily Crunch: Kanye West reaches agreement to acquire social media platform Parler

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin August 5, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Robinhood’s hangover, YC’s reduction and Uber’s return to form – TechCrunch
Next Article TA – Polkadot Price Shows Strength, Eyes $10

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

Revyze is building the TikTok of educational videos

6 Min Read

YouTube ends the test asking users to get a premium subscription to watch 4K videos

2 Min Read

Who is going to buy Cadillac’s $300,000 hand-built EV?

4 Min Read

Don’t let today’s software rally improve your mood

1 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?