Competing interests

A recent conference brought together regulators, lawyers and international business leaders to debate the implementation of India’s new competition act. Raghavendra Verma was there to cover the action

For evidence of the global concern surrounding the implementation of India’s Competition (Amendment) Act, 2007, look no further than the large number of domestic and international business leaders who gave up a weekend in mid-March to attend More than 150 delegates and speakers from as far afield as the US, the UK, Belgium, Canada, Australia and China participated in the event. They included a delegation from the Competition Commission of India (CCI), industry representatives from companies as diverse as Microsoft, Tata, Goldman Sachs and Reliance, and many prominent Indian and international lawyers.

“This big international attendance shows the importance of the Indian economy where the playing fields are relatively new,” said Fernando Pombo, president of the International Bar Association, who was at the conference. “From my perspective as an international lawyer … this [new law] is a very important development,” he added.

India’s new competition law was covered in depth in the December/January issue of India Business Law Journal. A monthly update is also provided by the magazine’s competition and antitrust correspondent, Anand Pathak of P&A Law Offices.