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Digital competition law after due process: Union Minister Harsh Malhotra
Economic Times
·
4m ago
Medial
Union Minister Harsh Malhotra announced that the digital competition law will be established following due process, with over 100 suggestions received on the draft Digital Competition Bill. The government is awaiting a report from the Ministry of Electronics and Information Technology. Malhotra stressed the importance of considering international digital market practices and implementing real-time market monitoring to ensure fair competition. The proposed law aims to include ex-ante measures for proactive oversight of large digital enterprises.
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Related News
10,189 IT firms opened shop in Telangana in last 6 yrs
Inshorts
·
4m ago
Medial
Union Minister of State for Corporate Affairs, Harsh Malhotra revealed in Lok Sabha on Monday that Telangana has witnessed the establishment of 10,189 IT companies over the past six years. During the same period, 3,369 companies ceased operations in the state. Malhotra highlighted that these IT companies collectively contributed to a turnover of ₹14,865 crore over the last five years.
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What the proposed digital competition law looks to regulate
Economic Times
·
1y ago
Medial
The Committee on Digital Competition Law has proposed a new digital competition law in India, aiming to regulate potential abuse of dominance by large digital companies. The draft legislation suggests introducing an ex-ante framework that empowers the Competition Commission of India (CCI) to monitor potential misconduct by major enterprises. The proposed law classifies digital enterprises based on their quantitative and qualitative criteria and imposes penalties of up to 10% of the global turnover of systematically significant digital enterprises. Stakeholder feedback on the draft legislation is invited by April 15. This initiative aligns with similar ex-ante regulatory approaches taken by the European Union.
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Go First acquisition: NCLAT asks Busy Bee Airways to negotiate deal with lenders | Company Business News
Livemint
·
6m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) instructed Busy Bee Airways to negotiate with Go First's lenders to acquire the bankrupt airline, which retains valuable assets. Busy Bee challenged a liquidation order from the National Company Law Tribunal (NCLT) after creditors opted for liquidation due to Go First's asset deficit. Busy Bee and a trade union argued against liquidation, citing potential job losses and the airline's viability as a going concern. Busy Bee re-entered the bidding process.
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Not literal, directional: Goenka on Murthy's 70-hr workweek, Goyal's startup remarks
Inshorts
·
4m ago
Medial
Billionaire Harsh Goenka posted on X, "When Murthy and Subrahmanyan spoke of 70-90 hour work weeks and Piyush Goyal questioned startups making vegan ice creams...they weren't being literal—they were directional." He added, "If India wants to compete with US or China, we can't just focus on comfort, convenience & brands." Goenka's remarks came after Union Minister Goyal criticised Indian startups.
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EU signals doubts over legality of Meta's privacy fee
TechCrunch
·
1y ago
Medial
The European Union has expressed doubts over Meta's controversial privacy fee, saying it is unlikely to comply with the bloc's digital governance and competition rules. Margrethe Vestager, the EU's digital EVP and competition chief, stated that there are multiple ways to monetise services and that Meta's tactic of offering a subscription or consent to tracking would need to be assessed for compliance with the Digital Markets Act. This signals that tech giants will need to follow both the letter and spirit of the law, as the EU aims to reduce their dominance and unfair practices.
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Revise Aadhaar to align with data privacy act, UIDAI told
Economic Times
·
3m ago
Medial
The Indian government plans to align the Aadhaar law with the Digital Personal Data Protection (DPDP) Act 2023, prioritizing user interests. The DPDP Act, notified in August 2023, necessitates amendments to the Aadhaar law to ensure compatibility. Union Electronics and IT Minister Ashwini Vaishnaw emphasized the importance of harmonization, with draft rules expected soon. The objective is to integrate appropriate data protection laws, enhancing privacy while fostering innovation and public service improvements through Aadhaar authentication.
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Digital Personal Data Protection Laws Drafting In Advanced Stage, Says Ashwini Vaishnaw
OutlookIndia
·
8m ago
Medial
Union Minister Ashwini Vaishnaw announced that the drafting of rules for the data protection legislation in India is in an advanced stage. Industry-wide consultations are planned to ensure a consultative process. The implementation of the Digital Personal Data Protection (DPDP) Act will be based on a 'digital-by-design' principle. A 'digital by design' platform is also being developed. The DPDP Act aims to establish comprehensive rules and standards for personal data collection, processing, storage, and sharing. The minister also expressed the government's goal to double employment and overall production in the electronics manufacturing industry, boosting the ecosystem and promoting positivity.
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Apple to face first charges under new European tech law
Livemint
·
1y ago
Medial
The European Union has charged Apple with violating a new digital-competition law that aims to promote competition in the digital advertising, online search, and app marketplace. The charges allege that Apple's App Store restrictions prevent developers from freely communicating pricing information and offers to customers. The EU also criticized the fees associated with the App Store, stating that they exceed what is necessary. The charges, which are preliminary findings, follow an investigation opened by the EU into Apple's App Store rules earlier this year. If found guilty, Apple could face fines of up to 10% of its global revenue.
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EU launches probes into Apple, Meta, Google under new digital competition law
Livemint
·
1y ago
Medial
The European Union has initiated investigations into Apple, Meta Platforms (formerly Facebook) and Google parent Alphabet under its new digital-competition law. This marks the first set of probes under the EU's Digital Markets Act, which aims to regulate large US tech companies. The investigations will focus on issues such as app developers' ability to communicate with users and promote offers, search result preferences, user control over software applications and default settings, and Meta's "pay or consent" plan. These investigations highlight the increased regulatory scrutiny faced by tech giants globally.
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The data dilemma: Companies find India's privacy law a tricky maze to traverse
Economic Times
·
1y ago
Medial
India's Digital Personal Data Protection (DPDP) Act 2023 was intended to transform the country's tech industry. However, two months after its enactment, companies are struggling to navigate the law, with more unanswered questions than solutions. From large FMCG companies to startups, banks, telecoms, and tech firms, everyone is facing doubts and challenges. The implementation of the privacy law in India appears to be a complex and difficult process for businesses.
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