On the competition issues in the digital markets, various regulatory agencies and departments are involved, including the Ministry of Electronics and Information Technology (MeitY) and the Ministry of Consumer Affairs, a senior government official said on Monday.
The panel is looking into various aspects of the digital markets as well as various regulations that are there, the official said, adding that consultations are going on.
The report is expected to be finalised in August, the official said.
A “whole government approach” will be adopted while putting in place the provisions under the digital competition law.
On July 4, officials of the corporate affairs ministry and the MeitY discussed concerns regarding Systemically Important Digital Intermediaries (SIDIs).
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“It has been decided that MCA will look into the competition issues in digital market… MeitY will look into sector-specific & technical issues,” the ministry had said in a tweet. On the same day, Union ministers Nirmala Sitharaman and Rajeev Chandrasekhar discussed various issues related to the digital competition law.
“The two ministers discussed in detail various issues on the ‘Digital Competition Laws’ and agreed that a ‘Whole Government approach’ should be adopted in the framing of provisions in this regard,” the finance ministry had said in a tweet after the meeting.
Sitharaman is in charge of finance and corporate affairs ministries while Chandrasekhar is the minister of state for electronics and technology as well as entrepreneurship and skill development.
The Ministry of Corporate Affairs (MCA) set up a panel in February this year to examine various regulatory aspects in dealing with challenges emerging from the digital economy. It will also examine the need for an ex-ante regulatory mechanism for digital markets through separate legislation.
The panel was set up less than two months after a Parliamentary panel proposed having a new digital competition law to curb anti-competitive practices in the digital markets.
The Competition Commission of India (CCI) Chairperson and experts from different fields are part of the panel.
There are also representatives from Niti Aayog, Department of Commerce, Department of Economic Affairs, Department of Consumer Affairs, Department for Promotion of Industry and Internal Trade, and the MeitY.
Among others, the committee will review whether existing provisions in the Competition Act, 2022, and the rules and regulations framed thereunder are sufficient to deal with the challenges that have emerged from the digital economy.
It is also studying the international best practices on regulation in the field of the digital markets as well as other regulatory regimes/ institutional mechanisms/ government policies regarding competition in the digital markets.
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