India

Trilegal | English | AcademicThink | Jan. 23, 2026 | UndeterminedLegal Exposure

The Competition Commission of India (CCI) directed three liquor vendor associations in Maharashtra to cease cartelisation activities including price fixing, control over market entry, and collectively setting retail terms. Despite finding evidence of cartel conduct, CCI refrained from monetary penalties due to mitigating factors such as first-time offence and limited financial capacity.

CCI dismissed a complaint against Google Play Store by Liberty Infospace, ruling that Google’s conduct in terminating developer accounts was justifiable to protect platform integrity and did not constitute abuse of dominance. The decision underscored the need to assess dominant position abuse in market context rather than in isolation.

In a significant enforcement action, the CCI imposed the maximum penalty based on the global turnover of six companies involved in bid rigging in solid waste management tenders for Pune Municipal Corporation. This marked the first use of the 2024 Penalty Guidelines allowing penalty calculation on global turnover when relevant turnover is infeasible. The CCI rejected mitigating factors due to the severity of the collusive conduct.

The National Competition Law Appellate Tribunal (NCLAT) largely upheld CCI’s finding that Meta and WhatsApp abused dominance by imposing unfair data-sharing terms in WhatsApp’s 2021 policy update. It upheld a penalty of INR 213.14 crore (~USD 23.6 million) but set aside a five-year ban on data sharing for advertising purposes, allowing other user consent remedies instead. Meta and WhatsApp have appealed to the Supreme Court.

NCLAT ruled that the CCI lacks jurisdiction over patent-related disputes, affirming its dismissal of a complaint against Vifor International regarding licensing and pricing of a patented pharmaceutical ingredient. The CCI has challenged this decision in the Supreme Court.

The Kerala High Court affirmed the CCI’s jurisdiction to adjudicate abuse of dominance claims in regulated sectors such as broadcasting. The court held that the Competition Act and Telecom Regulatory Authority of India Act operate concurrently, with CCI’s jurisdiction applicable for competition issues distinct from sectoral regulatory matters.

Hindu Business Line | English | News | Jan. 23, 2026 | UndeterminedEconomic Growth

In 2025, India experienced a rare "Goldilocks" phase characterized by moderate and resilient economic growth alongside subdued inflation, supported by stable macroeconomic fundamentals despite global volatility. The Reserve Bank of India’s cumulative 125 basis points repo rate cuts and fiscal, monetary, and regulatory policies have fostered this growth environment, leading to a prediction-defying Q2 FY26 GDP growth of 8.2 percent. Both urban and rural consumption contributed, with rural demand boosted by good monsoons and government incentives. Manufacturing output grew impressively by 9.1 percent in Q2 FY26, driven in part by the Production Linked Incentive (PLI) program, which attracted investments totaling ₹2 lakh crore and generated over 12.6 lakh jobs.

Government capital expenditure remains the primary growth driver, while private capital expenditure is gradually picking up, supported by strong corporate balance sheets, easier banking conditions, and growth in corporate bond markets, which reached $642 billion by March 2025. India’s economic trajectory is fueled by comprehensive reforms including GST rate rationalization, income tax rationalization, labor code streamlining, and policies focusing on clean energy and energy self-reliance. The Insolvency and Bankruptcy Code (IBC), implemented nine years ago, has been pivotal in resolving ₹12 lakh crore of stressed debt and reducing non-performing assets, thereby improving the ease of doing business and enhancing investment attractiveness.

The investor base expanded notably in 2025, with increased participation from younger generations, women, and households in tier-2 and tier-3 cities, reducing dependency on foreign capital. Monthly Systematic Investment Plan (SIP) flows highlight growing retail investment, which supports capital formation and wealth creation. However, foreign portfolio investors showed caution, with net outflows of around $10.4 billion in 2025, exerting pressure on the Indian rupee. Regulatory initiatives such as SEBI’s ‘India Market Access’ platform and RBI’s proposal to expand External Commercial Borrowings framework aim to improve global investor participation and access to capital.

Looking ahead to 2026, India is expected to shift from policy intent to tangible outcomes with ongoing policy easing, regulatory clarity, and FDI openings in insurance and nuclear energy sectors supporting sustained growth. The financialisation of savings and increased capital expenditure in sectors like electronics manufacturing services and defence are anticipated to drive the next investment cycle. Strengthened corporate balance sheets, rising credit demand, and improved earnings position India to leverage its structural advantages and emerge as a significant global growth engine amid ongoing global uncertainty.

The Economic Times | English | News | Jan. 23, 2026 | UndeterminedTrade Issues and Numbers

US President Donald Trump expressed confidence in the India-US Bilateral Trade Agreement (BTA), stating that the two countries are "going to have a good deal." He praised Indian Prime Minister Narendra Modi as a close friend and a respected leader during an interview with Moneycontrol following his address at the 56th Annual Summit of the World Economic Forum.

India's Commerce Secretary Rajesh Agrawal indicated that the first tranche of the BTA is "very near," though he did not provide a specific timeline. The agreement, formally proposed in February 2025, aims to more than double bilateral trade between India and the US from USD 191 billion to USD 500 billion by 2030.

The trade talks were initiated during Prime Minister Modi's visit to Washington in February 2025. The Ministry of External Affairs confirmed that since February 2025, both countries have conducted multiple negotiation rounds to reach a balanced and mutually beneficial agreement, with several occasions where they were close to finalizing the deal.