India’s Digital Personal Data Protection (DPDP) Act 2023 will impact internet companies, mobile apps, and businesses handling citizens’ data. Enterprises will need to assess the fine print of the legislation to address their risk exposure and compliance requirements.
India’s draft Competition (Combinations) Regulations, 2023 released by the CCI, seeks to implement the amended Competition Act. It is open to the public for feedback till September 25, 2023. We discuss key provisions and proposed changes to the M&A landscape.
India’s Ministry of Corporate Affairs has recently launched the LLP Amnesty Scheme 2023, granting LLPs respite from late filings (Forms 3, 4, 11) till November 30, with streamlined processes and waived penalties, showcasing support for businesses.
Independent directors, per India regulations, play a pivotal role in balancing corporate interests and maintaining ethical oversight. Qualifications are stringent, there are limits on directorships, and appointments involve board approval.
On August 23, 2023, the Competition Commission of India (CCI) released draft rules for Commitments and Settlements under the Competition (Amendment) Act, 2023. These frameworks allow implicated companies to settle with the CCI in cases of abuse of dominance and anti-competitive agreements.
International retailers and brands must carefully navigate the market entry requirements in India, such as FDI restrictions and the terms and conditions associated with e-commerce selling, licensing agreements, and franchises.
India is working on the legal framework for its first IFSC at GIFT City in Gujarat to enable it to become a global financial center.
India hopes to leverage private sector expertise in critical mineral exploration to sufficiently exploit its natural geological potential and reduce import dependencies for critical raw materials in frontier industries.