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Matrimony.com, Innov8 Among Startups Backing Digital Competition Bill; Urge Action Against Big Tech
Inc42
·
1y ago
Medial
Around 40 Indian startups, including Matrimony.com, TrulyMadly, and Magicbricks, have expressed strong support for the Digital Competition Bill proposed by the Indian government in March 2024. The startups argue that major tech companies like Google, Apple, and Meta have dominant positions in the industry, stifling innovation and limiting consumer choice. They believe the bill, with its focus on ex-ante regulations, has the potential to revolutionize the Indian startup ecosystem. Startups are urging the government to expedite the passage of the bill and revise the thresholds for designating Systematically Significant Digital Enterprises (SSDEs) to avoid inadvertently encompassing smaller startups.
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Indian Startups Pledge Support to Draft Digital Competition Bill; Say Ex-ante Norms Game-changer
OutlookIndia
·
7m ago
Medial
Nearly 40 Indian startups have come out in support of the draft digital competition bill, advocating for its 'ex-ante' regulations as a potential solution to combat anti-competitive practices of big tech companies. The startups, including Matrimony.com, TrulyMadly, Innov8, QuackQuack, Magicbricks, Hoichoi, and Medibuddy, have written to the Ministry of Corporate Affairs expressing their support and urging the government to move forward with the bill. They argue that the bill will address long-standing concerns and create a level playing field for Indian ventures while ensuring the growth and innovation of startups.
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India Inc raises concerns over draft Digital Competition Bill
YourStory
·
1y ago
Medial
India Inc expressed its concerns about the draft Digital Competition Bill 2024 in a meeting chaired by MeitY Secretary S Krishnan. IAMAI proposed recommendations for the Dual Legislation, stating that the current Competition Act and the new bill for digital markets are unjust and untenable. The proposed bill seeks to impose obligations on big tech firms with a global turnover exceeding $30 billion to ensure fair competition in the digital space. MeitY will hold further consultations before deciding on any action.
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MeitY to discuss digital competition bill draft with industry associations
Economic Times
·
1y ago
Medial
The Indian government is holding meetings with industry representatives and associations to discuss concerns over the draft of the digital competition bill. The bill aims to regulate unfair competition and the influence of big tech companies in the digital space. The government has invited representatives from the Ministry of Corporate Affairs and the Competition Commission of India to address industry concerns. The draft bill has received opposition from digital rights groups, including the Internet and Mobile Association of India (IAMAI), who argue that it unfairly burdens digital companies and hinders investments in tech startups.
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Friends, foes and firework
Economic Times
·
1y ago
Medial
The draft of the Digital Competition Bill, 2024, has created unexpected alliances and strained relationships within the industry. The bill aims to regulate foreign-controlled big tech companies for the growth of the Indian digital market. It has brought together unlikely allies and caused divisions among industry colleagues. The government and industry stakeholders are engaged in a cat-and-mouse game as they navigate the potential impact of the bill on the digital economy.
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IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA
Economic Times
·
1y ago
Medial
Four members of the Internet and Mobile Association of India (IAMAI) have expressed divergent views from the association's recent submission opposing ex-ante regulation proposed in the draft Digital Competition Bill (DCB). The companies believe that the IAMAI's submission does not represent the entire digital startup ecosystem and they urge the Ministry of Corporate Affairs to proceed with ex-ante regulations to combat the anti-competitive practices of Big Tech companies. They argue that opposition to ex-ante regulations will maintain the status quo and hinder competition and innovation. The companies emphasize the necessity of ex-ante regulation in the digital sector and highlight that other jurisdictions are implementing similar rules.
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Trouble For Big Techs? MCA Invites Public Feedback On Draft Digital Competition Bill
Inc42
·
1y ago
Medial
The Ministry of Corporate Affairs in India has sought public feedback on a draft Digital Competition Bill, which aims to regulate the practices of big tech companies and other significant digital enterprises. The bill recommends the creation of a Digital Competition Act to enable the Competition Commission of India to regulate large digital entities. Other recommendations include the establishment of quantitative thresholds for designating systemically significant digital enterprises, the obligation for transparent grievance redressal mechanisms, and the empowerment of the Centre to exempt certain enterprises from the bill. The bill also imposes various obligations on big tech companies, such as ensuring cybersecurity and compliance with local laws.
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Digital Competition Bill: Gatekeeper tag likely for top digital startups
Livemint
·
1y ago
Medial
Several top Indian startups, including Zomato, Myntra, and Nykaa, may face stricter compliance standards under the new Digital Competition Bill aimed at ensuring fair play in digital markets. The bill proposes the identification of influential digital economy companies, termed as "systemically significant digital enterprises," who will be required to follow specific regulations and file compliance reports to the Competition Commission of India. Violators of the law could face penalties up to 10% of their global turnover. The bill also covers companies in sectors such as medicine delivery, rail ticket booking, and digital payments.
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Delhi HC Dismisses Startups’ Plea Against Google Play Billing, CCI Sets Hearing Date on Feb 21
Thehindubusinessline
·
1y ago
Medial
The Delhi High Court has disposed of a plea by startups that sought an early hearing of their year-old complaint against Google. The Alliance of Digital India Foundation (ADIF), representing Indian startups and app developers, alleged "inordinate delay in adjudication" by the Competition Commission of India (CCI) in the Google Play Billing matter. The CCI has now fixed February 21 as the date for hearing the startups' complaint. Faced with complaints of inaction and delays, the CCI is under pressure to act on the startups' complaint and other cases involving big tech companies.
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IT Ministry to Propose the removal of Ex-ante provision from the Digital Competition Bill: Report
OutlookIndia
·
8m ago
Medial
The Ministry of Electronics and Information Technology (MeitY) is reportedly planning to request the Ministry of Corporate Affairs (MCA) to exclude the ex-ante provision from the proposed Digital Competition Bill (DCB) for now. The move follows discussions between the IT ministry, industry players, and representatives from MCA and the Competition Commission of India (CCI). Concerns were raised that provisions in the bill related to ex-ante and other aspects could be detrimental to Indian startups. The DCB aims to regulate digital markets and address anti-competitive practices by tech companies.
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Digital Competition Bill May Compromise UI Of Digital App: Report
Inc42
·
1y ago
Medial
According to a report by CUTS CIRC, the draft digital competition rules in India may require designated companies to make changes to their product architecture. The report also highlights that the user consent requirements in the draft Bill could potentially increase the time and effort for end-consumers. Additionally, the report mentions that several Indian startups and digital companies such as Zomato, Swiggy, Paytm, Flipkart, and MakeMyTrip could fall under the scope of the draft Bill and its SSDE designation.
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