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GOVERNANCE – POLICY

GOVERNANCE - POLICY Panel recommends law to regulate Big Tech firms
Panel recommends law to regulate Big Tech firms

•The Committee on Digital Competition Law, formed by the Corporate Affairs Ministry in February 2023, released its report, recommending legislation to regulate the market power of Big Tech firms like Google and Meta.

•The Competition Act of 2002 “intervenes after the occurrence of an anti-competitive conduct”, the committee said.

•The recommendations would better equip Competition Commission of India (CCI) to rule on competition matters for tech firms.

•It recommends the creation of a new law, the Digital Competition Act, to “introduce an ex-ante legislation specifically applicable to large digital enterprises, to supplement the Competition Act”.

•A draft prepared by the panel targets firms with a “significant presence” in the market for a “Core Digital Service,” terming them “Systemically Significant Digital Enterprises (SSDEs)”.

•If a firm does not self-designate, the penalty recommended by the committee would be derived from its global turnover.

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