Regulation in Developing Countries – Growing Pains of the Indian Merger Review Regime

Society for Policy Studies, Policy Brief No. 3, July 2015

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Abstract

This paper highlights the problems faced by a young competition authority in the context of India’s nascent merger review regime. It draws attention to the fact that the competition regulator’s attempts to strengthen the quality of merger review are not necessarily welcomed by vested interests. This is not unique to a competition regulator or to India as literature on regulation in developing countries has always highlighted problems of concentration and convergence of economic and political power and regulatory challenges in the shape of information asymmetries and capture along with limited capacities.