Amidst the global competition among tech giants like Amazon, Apple, Facebook, Google, and others, the parliamentary standing committee on finance has urged the Union government to finalize the digital competition bill in an attempt to check anti-competitive practices in the digital markets.
The committee has recommended the formation of a Digital Competition Law and defining Big Tech companies as Systemically Important Digital Intermediaries (SIDIs) based on revenues, market capitalization, and end users. It has also highlighted the need for a separate law for competition in digital markets and identified 10 areas of anti-competitive practices that should be focused on by the Digital Competition Law Commission (DCLC).
Read more: Indian Watchdog Is Concerned With IndiGo and Air India Controlling 81.3% Of The Market
The committee, referring to the 60th report of the parliamentary standing committee on finance, stated “The committee urged and highlighted the importance in making DMDU as a robust outfit staffed with skilled experts. The committee urged the DCLC to focus on 10 areas of anti-competitive practices identified by it.”
Furthermore, Google has been investigated by the Competition Commission of India (CCI) for allegedly abusing their dominant market positions to collect large amounts of customer data, leading to fines of ₹936.44 crore and ₹1,337.76 crore in two separate cases during past 12 months.
The increased efforts by parliamentary standing committee to monitor Big Tech companies reflect the government’s attempt to ensure the availability of a fair and healthy competitive digital environment for all participants. The companies, users, and investors, all expect that the Digital Competition Law will be finalized soon, ensure that anti-competitive practices are curbed, and thereby protect their rights.
Source: Live Mint
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI