In a bid to ensure a level-playing field in the digital market space, a parliamentary panel met to discuss the need to prepare a legal framework for fair competition in the space. During the meeting, several members of the parliamentary panel on finance questioned the market dominance of some tech companies which, according to them, is precluding other competitors and Indian players. The members of the panel suggested that there exists a need for legislation in the digital market space which should not only be business unfriendly but should also save the interests of the consumers as well.
Meanwhile, based on the discussions, the parliamentary panel will be issuing a report on the evolution of competition law for digital markets. As per sources, the report is expected in the first week of September 2022.
In preparation of the report, the panel has been conducting a series of hearings with firms that are operating in digital markets, industry associations, regulators and ministries. The report is expected to take into account India’s circumstances and consider competition law associated with digital markets around the world.
