CCI To Set Up Inhouse Digital Mkt Data Unit For Regulating Tech Platforms
The Competition Commission of India (CCI) is setting up an in-house digital market intelligence unit that can act as a "force multiplier" for the competition regulator. said a senior official to regulate digital markets. .
"Increasing capacity is a prerequisite for effective market intervention. Therefore, regulators must first have the necessary skills and capabilities to deal with market distortions in complex technology markets. Please note that this is a digital ICC already in progress. to create the launch of market data units,” ICC (I/c) Secretary Jyoti Jindgar Bhanot said.
He emphasized early intervention as the key to preventing an irreparable distortion of the competitive landscape in digital markets.
"Market reports in the digital space, and especially in platform markets, can happen at a speed unimaginable in terms of traditional market competition regulations," Bhanot said at an international conference organized by Competition and Big Tech. ". BRICS Center for Competition Law and Policy and CUTS International.
The conference brought together leading experts, policymakers and stakeholders from around the world to discuss emerging challenges related to competition law in the BRICS countries. Anti-competitive practices in automotive markets and Industry 4.0, an ecological approach to competition law in the new economy, and advanced rules of the digital economy and competition law were the main topics of discussion.
Bhanot said that the former approach to competition law is widespread around the world.
"The framework aims to address the unique challenges of the digital economy through clear and predictable rules on market access, access to information, interoperability, privacy, investment incentives and innovation."
Big tech companies like Google, Apple, Meta and Amazon are being investigated around the world for abusing their market position by using snippets of user data. Earlier this year, the ICC imposed fines of Rs 936.44 crore and Rs 1,337.76 crore on Google in two separate cases.
The Ministry of Corporate Affairs has formed a committee to draft the Digital Competition Law. Similarly, the commission is analyzing whether the existing provisions in the Competition Act 2002 and related norms are sufficient to meet the challenges of the digital economy. The PHC provides secretariat and research support and logistical support to the commission.
