The Competition (Amendment) Act, 2023 (“Amendment Act”) brings prominent changes to the competition law regime in India; however, from a merger and acquisition (“M&A”) viewpoint, it appears that the changes introduced are the beginning of a new dawn. Prima facie, amendments to the legislative framework of combinations will increase the role of the regulator as well as the transaction costs for the parties. This is aimed towards maintaining a balance between competition, innovation and concentration. This article discusses the possible implications of these amendments on the competition framework and suggests ways to further refine these changes for a nuanced combination framework. Introducing the deal value threshold (“DVT”) in the notifiability assessment procedure shall bestow the opportunity on the Competition Commission of India (“Commission/CCI”) to consider the monetary impact of non-price considerations in M&A. However, a close inspection of the amendment also highlights practical hurdles in its implementation, including the efficacy of DVT and the administrative burden on the CCI. In this paper, the author argues that overhauling the merger control regime is indeed a welcome move; although, there are many ambiguities regarding the implementation of the new definitions and provisions. This paper provides a multijurisdictional analysis along with examining the decisional practice of the CCI to suggest the future roadmap for regulating combinations. It also identifies certain loopholes of DVT and provides critical suggestions to improve the efficacy of the same in the Indian market. Moreover, the paper also emphasizes on the relevant provisions of the Draft Regulations on Combinations, 2023 (“Draft Regulations”) to gauge the final combination framework. Lastly, the author suggests that it is imperative to capture the needs of the Indian market and accommodate the best international antitrust measures to satisfy the legislative objectives that would promote fair competition and ease of doing business.