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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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Draft Digital Competition Bill: government may hold new round of discussions with stakeholders
Economic Times
·
1y ago
Medial
The government is expected to hold further consultations on the draft of the Digital Competition Bill, focusing on the ex-ante provision and the definition of systemically significant digital enterprises. Stakeholder feedback and suggestions from various ministries will be considered before the final draft is released.
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Group Representing Google, Apple, Amazon Opposes Digital Competition Bill
Inc42
·
1y ago
Medial
The US-India Business Council (USIBC) has requested the Ministry of Corporate Affairs (MCA) to reconsider the draft Digital Competition Bill. The USIBC, which represents major tech companies like Google, Amazon, Apple, Meta, and Walmart, stated that the proposed bill has a broader scope compared to the EU's Digital Markets Act. The council highlighted concerns that certain restrictions outlined in the bill will ultimately increase costs for end users.
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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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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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CCI Chief Red Flags Data Dominance Of Digital Giants
Inc42
·
1y ago
Medial
CCI Chairperson, Ashok Kumar Gupta, highlighted the competitive advantages enjoyed by tech giants who collect and analyze vast amounts of customer data. Gupta pointed out that control over large datasets could create significant barriers for new entrants, potentially leading to a winner-takes-all situation. This statement comes shortly after the Indian government sought public feedback on a draft bill aimed at regulating competition in the digital economy.
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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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IT Ministry to Propose the removal of Ex-ante provision from the Digital Competition Bill: Report
OutlookIndia
·
9m 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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Citing overlaps, experts seek rejig of Digital Competition Bill
Economic Times
·
1y ago
Medial
The Ministry of Electronics and Information Technology continued discussions on the digital competition bill, with participants expressing concerns about the potential negative consequences of imposing foreign regulations and the overlap with existing laws. Think tanks highlighted the importance of revisiting the current draft and sought more consultation on the subject. The draft was compared to the Digital Markets Act of the EU, raising concerns about its impact on the growth of Indian startup unicorns. The IT ministry has been engaging with various stakeholders to gather input on the proposed digital competition bill.
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Lok Sabha Passes Digital Personal Data Protection Bill, 2023
Startup News FYI
·
2y ago
Medial
In a significant move to safeguard citizens’ privacy rights, the Lok Sabha has successfully passed the long-awaited Digital Personal Data Protection (DPDP) Bill on Monday, August 7, 2023. The bill was presented by the Minister for Electronics and Information Technology, Ashwini Vaishnaw, and comes after extensive consultations with various stakeholders, garnering feedback on the draft.
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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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