To tackle unfair and predatory practices in the digital market space, the Standing Committee on Finance will be submitting a report in the first week of September on how the competition law needs to evolve for the digital market. The majority of the tech companies who were invited to the meeting on Tuesday, however, expressed reservations about the necessity of any additional framework or law.
“In the first week of September, the Standing Committee on Finance will be submitting a report on the evolution of competition law for the digital market. We will take into account India’s unique circumstances; at the same time, we also examine competition laws associated with digital markets around the world,” panel chairperson and BJP MP Jayant Sinha said.
The European Union has recently passed the Digital Markets Act and Digital Services Act; there are several Bills pending in the British Parliament and the US Congress associated with digital markets, he added.
