A 16-member inter-ministerial Committee on Digital Competition Law was constituted by the Ministry of Corporate Affairs. Initially given a three-month timeline to present its findings, the committee has seen several extensions. Their task? Delve into the complexities of the evolving digital landscape and recommend actionable strategies.
The Mandate: Amid the technological transformation and the rise of dominant digital platforms, the mission of the committee is not just pivotal but time-sensitive. Their mandate is to:
Analyze anti-competitive practices that may stifle innovation.
Establish norms for data protection, ensuring users' digital footprints are safeguarded.
Propose methods to ensure fair competition in the digital market, fostering an environment where businesses, irrespective of their size, can thrive.
Drawing inspiration, the European Union's Digital Markets Act (DMA) stands out as a significant point of reference. The DMA is designed to regulate 'gatekeepers' or dominant platforms, setting out a list of dos and don'ts, ensuring these colossal entities operate fairly, and creating a conducive ecosystem for smaller competitors. Furthermore, the DMA grants the European Commission the authority to impose sanctions if gatekeepers veer off the prescribed path.
The Need: The digital transformation has been groundbreaking, changing how businesses operate and consumers function. But with great power comes great responsibility. As a handful of digital entities began taking center stage, concerns related to monopolistic behavior, data privacy breaches, and unfair trade practices emerged.
To preemptively curb these challenges, ex-ante regulations have gained global traction. Such regulations are proactive, aiming to nip potential issues in the bud rather than being merely reactive.
In conclusion, as nations grapple with the challenges of the digital age, the onus is on committees like the one under the Ministry of Corporate Affairs to pave the way. Their recommendations could shape the trajectory of digital commerce and competition, ensuring a balance between growth, fairness, and protection in the digital realm.
From:SRIRAM'S IAS: Crafting Civil Service Aspirations into Achievements.
