India Inc Voices Concerns Over Digital Competition Bill 2024

India Inc raised concerns over the draft Digital Competition Bill 2024 in a meeting chaired by MeitY Secretary S Krishnan. IAMAI proposed recommendations, highlighting unfairness in dual legislation. The bill seeks to impose obligations on large digital firms to ensure fair competition, receiving mixed industry reactions.

In a significant move, India Inc expressed concerns regarding the draft Digital Competition Bill 2024 at a meeting chaired by MeitY Secretary S Krishnan. Originally scheduled for June 13 but postponed, the meeting saw participation from the Competition Commission of India and the Ministry of Corporate Affairs.

The Internet and Mobile Association of India (IAMAI) presented recommendations against the Dual Legislation, arguing that the current Competition Act and the new bill are unfair. IAMAI criticized the broad definition of significant digital players, which it believes includes all digital firms. They proposed that unresolved issues could be addressed by amending the IT Act and the Competition Act.

Introduced in February by the Ministry of Corporate Affairs, the new bill imposes several obligations on large digital firms, including those with a global turnover exceeding USD 30 billion. The proposal has received mixed reactions from industry stakeholders, with strong opposition from big tech firms but support from others, including the Alliance of Digital India Foundation (ADIF). MeitY is expected to hold further consultations before finalizing any actions.

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