The Indian competition law regime, first enacted in 2002 and amended in 2007, has gained momentum in 2009, with the appointment of a new chairman and other members to the Competition Commission (CCI), amidst speculation that the rules on cartels, abuse of dominance and merger control will come into force later this year. Whilst the current economic climate means that M&A activity has inevitably taken a back seat, the new competition rules signal significant changes for foreign and domestic deals. In summary, once the law is in force, domestic and foreign mergers which meet certain turnover or asset thresholds must be notified to the CCI for clearance. According to the regulations, a deal is not likely to adversely affect competition in India unless at least two parties to a deal have a presence in India, namely (1) each party generates Rs 600 crore turnover in India or (2) each party has assets to the value of Rs 200 crore in India, in addition to satisfying other worldwide turnover/asset requirements. The 210-day wait —a deal breaker for many transactions — has been reduced to 30 days or 60 days for most deals, on par with international standards. […]