INTRODUCTION
Aiming to add to the ongoing discourse on policy and regulatory approaches to addressing competition issues in digital markets, The Dialogue hosted a virtual roundtable discussion titled, ‘Future of Competition Policy in Digital Markets’ on March 10, 2023.
The Roundtable opened with a panel discussion featuring Dr. Amar Patnaik, Member of Parliament, Rajya Sabha, Dr. Aurelien Portuese, Director of The Schumpeter Project on Competition Policy, and Ms. Shruti Aji Murali, Counsel at Axiom5 Law Chambers, as speakers, and Dr. Frédéric Jenny, Chairman of the OECD Competition Committee as the moderator.
The latter half of the roundtable consisted of an interaction between the panelists and the participants. The session was attended by a diverse group of stakeholders including industry bodies, civil society, academi-cians, and government bodies. More than 80 people participated in the discussion.
A few clear recommendations emerged from the discussions. These recommendations are likely to bene-fit policy makers, including the CDCL, which is currently tasked with evaluating Indian digital markets and charting out the future of regulatory and policy interventions in the space.
KEY RECOMMENDATIONS
- Proposed competition frameworks, including ex-ante regimes, should focus on achieving a balance between the interests of consumers, innovators and small players in the markets.
- Any ex-ante framework introduced should align with existing competition frameworks and seek to complement them, rather than contradicting or complicating them. Further, to prevent regulatory ar-bitrage and potential litigation, regulations related to digital platforms in India should be harmonized.
- Revamping the CCI to make it more effective in enforcing current competition laws in digital markets, should equally serve the objectives sought to be achieved through ex-ante frameworks. A new unit could be established within the CCI to regulate the digital market effectively without hindering the fast-paced growth of Indian startups.
- Engaging with companies through participatory antitrust measures should be prioritized. Companies should be actively involved in the implementation of antitrust measures such as settlements or con-sent decrees to ensure compliance and effectiveness.
- Ex-ante regulations may have unintended negative consequences, especially in India’s booming startup ecosystem. These regulations could potentially hinder foreign investment and stifle innova-tion. Therefore, regulations, if any, should encourage competitiveness and foreign investment.
- Instead of borrowing from the DMA, a careful study of different kinds of ex-ante frameworks existing in different jurisdictions should be undertaken and the model best suited to Indian markets should be adopted.
TO READ FURTHER, DOWNLOAD THE EVENT REPORT HERE
