Digital Market Distortions Need Prompt Corrections As The Sector Is Growing Bigger In India: CCI
With multi-dimensional challenges, the anti-trust, analytical, and conceptual framework need necessary adaptations to reflect digital complexities, CCI Chairperson Ashok Kumar Gupta said.
New Delhi: All disruptions in the digital market need prompt corrections as India is emerging as one of the fastest and biggest digital economies, Competition Commission of India (CCI) chairperson Ashok Kumar Gupta said Saturday. "With control over used data and online real estate, the digital platforms are in a unique position to shape and influence consumer choices on one hand and steer consumer traffic to their businesses to the other," he said, as quoted by news agency PTI.
The gatekeeper position of these platforms is giving rise to concerns over their competition and contestability, Gupta said while addressing the Annual Conference on Competition Law and Practice organised by the Confederation of Indian Industry (CII) along with the CCI in Mumbai.
The consequences of this ‘so-called ecosystem’ is multiplied by the opacity in policies and the dat advantage they have over both business users and potential competitors, Gupta said.
"While India emerges as one of the biggest and fastest growing digital consumer bases, market distortions need to be corrected promptly. To address the challenges of enforcement and policy in this regard, the regulatory framework needed to adapt and reflect digital market complexities, reframe classic categories and concerns around personal and non-personal data and add other dimensions of quality and privacy, identify issues early on and cause faster remedial interventions," he added.
With multi-dimensional challenges, the anti-trust, analytical, and conceptual framework need necessary adaptations to reflect digital complexities, he said.
Another challenge Gupta talked about was the data related conduct that not only requires reshaping the classic antitrust around personal and non-personal data as the relevant asset but adding other dimensions of competition such quality and privacy.
Referring to the proposed amendments in the new Competition Amendment Bill introduced in Lok Sabha on August 5 this year, he said it aims to provide regulatory certainty, faster market corrections and trust-based business environment.
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