The Rajya Sabha passed the Competition Amendment Bill, 2023, intending to modernize the two-decade-old anti-trust legislation to reflect economic changes.
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The Competition Amendment Bill, 2023 seeks to amend the Competition Act, of 2002, which empowers the Competition Commission of India (CCI) to prohibit practices that harm competition and consumer interests.
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In August 2022, the Bill was tabled in Parliament and referred to the Standing Committee on Finance for assessment.
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The committee issued its findings in December 2022, and the Bill was reintroduced in February 2023 with a few changes.
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The Bill was approved by the Lok Sabha on March 29.
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