Supreme Court Justice Hima Kohli, who was a part of the roundtable discussion, urged to "carefully consider concerns" of the industry and ensure that the ecosystem remains competitive, without deterring innovation
Larger players may face increased scrutiny while higher compliance costs and may affect market dynamics
It has also extended the deadline for submission of comments by stakeholders on the report of Committee on Digital Competition Law (CDCL).
The PhonePe CEO was part of a discussion on the draft bill where stakeholders said they would ask the government to extend the April 15 deadline for the consultation process on the bill.
Given big tech dominance, the Digital Competition Bill was much awaited. But the law should be accompanied by enhancement of capacity at the competition regulators’ ends for optimal regulation of the technology sector. Clearer delineation of the scope and nature of inclusions and exemptions is needed, with a particular focus on extending exemptions to those generating net consumer benefits
However, they feel that two co-existing anti-trust laws may lead to over-regulation and add to the compliance burden of firms, the burden of which ultimately the consumer may have to bear.
Experts said that more clarity is required when it comes to providing exemptions to firms from the provisions of the draft Digital Competition Bill
While the additional compliance requirements in the draft Digital Competition Bill may not immediately affect startups, experts opined that the obligations proposed in the bill on Big Techs may trickle down to smaller players and have an indirect impact on their operations
The Digital Competition Bill proposes rules for Big Tech companies (SSDEs) to curb anti-competitive practices based on global turnover and user base.
Out of the 29 responses that the Committee on Digital Competition Law received on whether there is a need for a separate law to address anti-competitive practices by Big Tech, 22 were for such regulations while the rest had reservations
The draft Digital Competition Bill, which was released for public consultation on March 12, proposes further compliance obligations on large technology corporations
The draft bill is a part of the report that Committee on Digital Competition Law (CDCL) submitted to the Ministry of Corporate Affairs on February 27.
The parliamentary panel also emphasised that ex-ante evaluation is to ensure that digital markets do not end up being monopolised.
While MeitY is slated to come up with the Digital India Bill which would supersede the Information Technology Act 2000, an MCA-appointed panel is working on the Digital Competiton Law -- a separate law that is aimed at tackling Big Tech firms' anti-competitive practices.
Rajesh Magow of MakeMyTrip will become the vice chairperson and Times Internet's Satyan Gajwani will be the Treasurer.
This controversy will seemingly reach its climax when the results of the ongoing elections to IAMAI's governing council are announced later this month.
A few companies and personalities from the Indian startup ecosystem disagree with IAMAI's position, claiming that they support such a law and that Big Tech companies influenced the industry body's opposition.
The industry body's stance on the matter comes despite the opposition it faced from the Indian entrepreneurial ecosystem.
A few companies and personalities from the Indian startup ecosystem disagree with IAMAI's position, claiming that they support such a law and that Big Tech companies influenced the industry body's opposition.
In a draft document that is yet to be submitted to the Committee on Digital Competiton Law, the industry body has criticised the Parliamentary Committee on Finance's recommendation to introduce a new law on competition for digital markets. The final version of the submission may have some changes to it