OVERVIEW
Aiming to add to the ongoing discourse on policy and regulatory approaches to addressing competition issues in digital markets, The Dialogue hosted an international conference on 6th July 2023, in hybrid mode, on the theme of “Competition Law in the Digital Age: Adapting to New Realities”. The conference was attended by a diverse group of stakeholders including industry bodies, civil society, academicians, and government bodies. A few clear recommendations emerged from the discussions. These recommendations are likely to benefit policymakers who are evaluating Indian digital markets and charting out the future of regulatory and policy interventions in the space.
Some of the key takeaways that emerged from the discussions include:
a. Digital markets have led to a paradigm shift in the competition landscape since they are characterised by features like economies of scale, data wealth and network effects. Regulators are resultantly looking to address these unique nuances of new-age markets through a mix of traditional methods and technology-specific regulations.
b. It is crucial to gather more empirical evidence before adopting any specific approach to regulation. While the EU’s DMA is considered a reference point, it is still evolving and may not be reliable as the sole basis for India’s regulations. Therefore, India should conduct its research and collect relevant data to develop regulations tailored to its unique context and needs in the digital market.
c. Digitalization has enabled MSMEs to establish a robust online presence, reach a wider consumer base, and reduce entry costs into established markets. As a result, MSMEs have more resources to invest in innovation, leading to increased exports and the introduction of innovative products and services in other jurisdictions.
PUBLICATION DATE
August 10, 2023
TO READ FURTHER, DOWNLOAD THE EVENT REPORT HERE
