Government Reviews Feedback On Draft Digital Competition Bill

(MENAFN- KNN India) New Delhi, Mar 18 (KNN) The Indian government is currently reviewing stakeholder feedback on the Draft Digital Competition Bill (DCB), which aims to regulate anti-competitive practices in the digital economy.

The Ministry of Corporate Affairs (MCA) is assessing inputs received during the consultation period from March 12 to May 15, 2024.

The bill was drafted by the Committee on Digital Competition Law (CDCL), following recommendations from the Parliamentary Standing Committee on Finance.

The CDCL analysed global and domestic regulatory frameworks and conducted closed-door consultations with industry bodies, small businesses, think tanks, and major technology firms to ensure a balanced approach to competition regulation and innovation.

Additionally, the Ministry of Electronics and Information Technology (MeitY) hosted stakeholder discussions from June 18 to 20, 2024, to gather further perspectives.

Reports indicate that MeitY has suggested removing the ex-ante provision, which imposes preemptive regulations on dominant digital players, from the bill for now.

With feedback from over 100 stakeholders, including digital enterprises and legal experts, the MCA is carefully examining their concerns before finalizing the legislation.

The bill is expected to shape India's digital competition landscape by ensuring fair market practices while promoting technological advancements.

As the government works towards a final version of the bill, industry watchers and policy experts are keenly observing how the proposed law will impact the digital economy.

The balance between regulation and innovation remains a key focus, ensuring that India's digital market continues to thrive while safeguarding fair competition.

(KNN Bureau)

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