Key Points
The panel set up to examine the need for any ex-ante regulatory mechanism for digital markets is likely to submit its report to finance and corporate affairs minister Nirmala Sitharaman by the end of October, setting the stage for its consideration and follow-up action by the government, a person close to the development said Monday.. The government could bring in a specific digital competition law to regulate big tech, instead of tweaking the recently amended Competition Act...
The expected regulations will be tailored in such a manner that they reflect India's sensitivities and "won't be entirely based on the European model, even though competition issues relating to the digital space are more or less same everywhere", said the person, who did not wish to be identified...
The regulations could focus on large digital intermediaries of a certain size and leave small players, including startups, from its "ex-ante framework" to ensure innovation by them isn't hampered, said a second person...
In India, given the fast-paced, complex changes in the digital sphere and divergent views of domestic stakeholders regarding the regulations, the government will hold extensive deliberations before introducing a digital competition bill, the first person said..
