The Committee on Digital Competition Law, formed by the Ministry of Corporate Affairs last February, released its report, recommending legislation to regulate the market power of Big Tech firms like Google and Meta
On March 12, the Ministry of Corporate Affairs established the Committee on Digital Competition Law, which made recommendations for legislation to control the dominance of Big Tech companies such as Google and Meta in the market. The committee stated that the Competition Act of 2002 “intervenes after the occurrence of an anti-competitive conduct.” “A framework of this kind could not have been anticipated at the time, given the current rate and scope of digitalization.” If the suggestions are put into practice, the Competition Commission of India (CCI) would be more qualified to make decisions about IT company competition.
The “network effects” of these Big Tech companies, which allow them to quickly grow their user base and develop market strength that is hard for a new player to overthrow, are cited in the study as a reason for concern about their growing market dominance. According to the research, “as such, digital markets bear the risk of becoming irreversibly polarized in favor of the incumbent.”
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