Ritika
Digital Market In India: Ashok Kumar Gupta, Chairman, Competition Commission of India, says that the digital market in India is growing at the fastest pace and in the coming times it will make a big contribution to the growing Indian economy. He also said that the digital market is expanding rapidly and it can become a big market, so the disturbances in the market should be rectified immediately.
Addressing the Annual Summit on Competition Law held on Saturday, Gupta said, “For this there is a need to create a regulatory framework, which has avenues to deal with the current challenges facing this market. It needs to shape consumer choices across all digital platforms by controlling them with a focus on the data used and online real estate. This is because all its platforms are growing rapidly.”
Market control is the cause of many concerns
He said that gatekeeper-like controls on these platforms of the digital market are giving rise to concerns over many types of competition. Gupta said the impact of these ‘so-called ecosystems’ is being caused by ambiguity in policies for this market and data advantage on both business users and potential competitors.
Gupta said, “With India emerging as one of the largest and fastest growing digital consumer bases today, its market distortions need to be rectified immediately. Enforcement and policy challenges in this regard need to be addressed. To achieve this, there is a need for regulatory frameworks to adapt and reflect the complexities of the digital market. It is necessary to once again accurately define and add other dimensions of quality and confidentiality regarding personal and non-personal data. At the same time, issues should be identified early and its errors should be rectified rapidly.
Digital market has many challenges
He said that the challenges of this market are multi-dimensional and at the same time mistrust, analytical and ideological frameworks also add to the complexities of the digital market, which needs to be addressed. Another challenge to this is that data-related conduct requires turning not only personal and non-personal data, but the classic antitrust surrounding it into a relevant asset. Along with this, other dimensions of competition like quality and confidentiality also need to be added.
‘Even if there is a risk of a fall in the digital market, but…’
The CCI Chief said that even though the digital market is at risk of decline, it is necessary to identify and rectify the flaws of the fast growing market, he said, for this, by accepting the challenges for policy makers and regulators, trust in this market To maintain and for this the care of transparency should be continued.
With regard to the proposed amendments to the new Competition Amendment Bill, introduced in the Lok Sabha on August 5, he said it aims to provide regulatory certainty, rapid market reforms and a trust-based business environment. He said that after Chennai and Kolkata, the CCI will soon have a regional office in Mumbai to further ease access to the stakeholders.
read this also:
BJP trying to crush AAP, our leaders are staunchly honest: Arvind Kejriwal
Bharat Jodo Yatra: Today is the 11th day of Congress’s Bharat Jodo Yatra, Rahul Gandhi was seen on the streets of Kerala with hundreds of supporters
