The Digital Competition Law plays a critical role in ensuring that digital markets remain competitive, innovative, and beneficial for consumers and businesses alike. It requires ongoing adaptation and refinement to keep pace with technological advancements and evolving market dynamics.
On March 12, the Ministry of Corporate Affairs (MCA) released the draft Digital Competition Bill, a proposed legislation that aims to tackle big tech firms’ anti-competitive practices, for public consultation.
“Digital competition law, often referred to as antitrust law in the digital age, is a crucial component in the new age of technology as traditional antitrust frameworks were struggling to address the unique challenges posed by digital platforms. One of the key aspects of digital competition law is ensuring a level playing field for all market participants, including smaller businesses and startups, to avoid monopolistic behaviour. Crafting effective digital competition laws requires a nuanced understanding of both technology and economics. Balancing the need to promote competition and innovation with the potential unintended consequences of overly burdensome regulation is a significant challenge. Given the global nature of digital markets, coordination and cooperation between jurisdictions are essential to effectively addressing antitrust issues in the digital age. The Digital Competition Law plays a critical role in ensuring that digital markets remain competitive, innovative, and beneficial for consumers and businesses alike. It requires ongoing adaptation and refinement to keep pace with technological advancements and evolving market dynamics.” Gaurav Sahay, Practice Head (Technology & General Corporate), Fox Mandal & Associates
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