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MeitY to meet MCA, CCI today, to discuss concerns over Digital Competition Bill
A follow-up discussion is to take place on June 18 under the chairmanship of MeitY Secretary.
Much of the market’s 2024 growth stemmed from pent-up demand and the expansion into regions with lower smartphone penetration.
The ministry of electronics and information technology (MeitY) has called for two meetings to discuss the concerns regarding the digital competition bill. The Ministry is to hold a first meeting on June 13 with Ministry of Corporate Affairs (MCA), along with officials from the Competition Commission of India (CCI), to discuss concerns and suggestions regarding the Digital Competition Bill.
The bill aims to tackle the monopoly of Big Tech firms. A follow-up discussion is to take place on June 18 under the chairmanship of Secretary, MeitY, as the industry stakeholders have sent several representations on the Bill to the IT Ministry.
An email notice sent by Meity stated, “Numerous representations are being received.. on the draft Digital Competition Bill, raising serious concerns regarding the impact of the proposed Bill on data and digital markets. In this regard, a meeting is scheduled under the chairmanship of Secretary, MeitY in the presence of AS (Additional Secretary), MeitY and officials to discuss the representations…”
The digital competition bill was introduced by the Ministry of Corporate Affairs in February 2024 to address Big Tech's anti-competitive practices. While Big Tech companies have raised their concerns, startups have also claimed that the bill will have detrimental impact on them. But there are divergent views as several startups have also strongly supported the draft Digital Competition Bill. Earlier this month, a group of Internet and Mobile Association of India (IAMAI) members voiced their dissent to the industry body's submission of the draft Digital Competition Bill and exhorted the Ministry of Corporate Affairs to move ahead with ex-ante regulations at the earliest.
In a letter to the Ministry, four digital companies including Bharat Matrimony, Match Group, ShareChat, and Hoichoi expressed a divergent view from the submission made by IAMAI. These companies have emphasised the need for ex-ante regulations to curb anti-competitive practices of Big Tech companies to address long-standing concerns of Indian startups to rein in practices that stifle innovation, limit consumer choice, and hinder the growth of young businesses.
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