Thứ Sáu, Tháng Sáu 9, 2023
HomeBusinessDigital Competition Law: Panel misses reporting deadline, meets May 10 for further...

Digital Competition Law: Panel misses reporting deadline, meets May 10 for further discussion

The 10-member Digital Competition Law (CDCL) Committee appointed by the Ministry of Companies (MCA) will meet on May 10, confirming widespread fear that the Board will not comply with the filing deadline. reported on May 6.

It may be recalled that the MCA, in forming the committee on February 6, gave CDCL three months to submit its report and proposed draft Digital Competition Act for India.

The CDCL’s seventh meeting chaired by MCA Minister Manoj Govil is scheduled for May 10, sources familiar with the matter said.

The The term of the council is expected to be extended by several months because CDCL has just begun an internal discussion of the outlines of a proposed framework to address Big Tech’s anticompetitive behavior.

CDCL has been tasked with examining the need for a pre-regulatory mechanism for the digital market through its own legislation. It has also been tasked with preparing a draft of the Digital Competition Act.

The Board will also have to consider whether existing provisions in the Competition Act and the Rules and Regulations framed therein are sufficient to deal with the challenges emerging from the digital economy. Are not.

India is contemplating enacting the Digital Competition Act at a time when policymakers around the world are increasingly concerned about the power and dominance of tech giants in the economy. as well as the need to ensure a level playing field for all participants in the digital economy. market.

Competition law experts remain divided over whether India needs a separate digital competition law. Some still argue that it will be too early for India to adopt the framework expected to pass a separate law to prevent Big Tech’s anti-competitive behavior in the digital market.

In four meetings—held on February 22, March 4, March 11and on March 24, the Council heard representatives from various major Technology companies, including Google, Apple, Amazon and Netflix; industry association, including Digital News Publishers and Digital Startups.

India’s rapidly growing digital economy is expected to reach $1 trillion by 2025-2026.

Regulations in other countries

Even as India plans to enact a Digital Competition law, enacting such legislation in developed countries remains a mess. Some countries have made significant progress in this area, while others have been slower to act.

For example, the European Union has been at the forefront of digital competition law with the General Data Protection Regulation (GDPR) and Antitrust investigations and fines against tech giants like Google and Facebook. In addition, the EU has proposed new regulations, such as the Digital Markets Act and the Digital Services Act, to create a more level playing field for businesses operating online.

The US has also taken some steps towards digital competition law with ongoing antitrust investigations and lawsuits against companies like Google and Facebook. However, progress has been slower due to political and ideological divisions.

In contrast, countries like Japan and South Korea have been slower to enact digital competition laws, although they have begun to take steps towards regulation in recent years.

Overall, the enactment of digital competition laws in developed countries is motivated by the recognition of the growing importance of the digital economy and the need to protect consumers and businesses from negative impact of monopolistic activities in the digital space.

Source link


Most Popular