{"id":220074,"date":"2022-12-27T20:18:45","date_gmt":"2022-12-27T14:48:45","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=220074"},"modified":"2022-12-27T20:18:45","modified_gmt":"2022-12-27T14:48:45","slug":"gear-up-wisely-to-clamp-down-on-important-digital-intermediaries","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/gear-up-wisely-to-clamp-down-on-important-digital-intermediaries\/","title":{"rendered":"Gear up wisely to clamp down on important digital intermediaries"},"content":{"rendered":"\n

Source<\/span><\/b>: The post is based on the article <\/span>\u201c<\/span><\/b>Gear up wisely to clamp down on important digital intermediaries<\/span><\/b>\u201d <\/span><\/b>published in<\/span> the <\/span>mint <\/span><\/b>on <\/span>27th December 2022<\/span><\/b>.<\/span>\u00a0<\/span><\/p>\n

Syllabus: <\/span><\/b>GS3- Indian economy<\/span>\u00a0<\/span><\/p>\n

Relevance<\/span><\/b>: Issue related to fair competition in market.<\/span><\/p>\n

News<\/span><\/b>: The article explains the Parliamentary Committee report on anti-competitive practices by big tech companies prevalent in digital markets.<\/span>\u00a0<\/span><\/p>\n

Recently, the Standing Committee on Finance tabled its report on <\/span>\u201canti-competitive practices by Big Tech companies<\/span><\/b>\u201d.<\/span>\u00a0<\/span><\/p>\n

What are the recommendations of the Parliamentary Panel?<\/span><\/b>\u00a0<\/span><\/h5>\n

It has recommended the introduction of <\/span>\u201cDigital Competition Act\u201d<\/span><\/b>. It would ensure a fair and transparent digital ecosystem in India.<\/span>\u00a0<\/span><\/p>\n

Dedicated \u201cdigital market units\u201d <\/span><\/b>should be set up at CCI. It should be staffed with skilled experts to handle issues related to digital markets.<\/span>\u00a0<\/span><\/p>\n

Any <\/span>merger or acquisition involving them<\/span><\/b> must be notified to CCI. There is no minimum threshold or local nexus requirement to keep out deals that do not have a substantial impact on competition.\u00a0<\/span>\u00a0<\/span><\/p>\n

It has emphasised the need for <\/span>globally harmonised regulations<\/span><\/b> that govern digital markets.<\/span>\u00a0<\/span><\/p>\n

A consistent theme of the report is the <\/span>exceptional growth<\/span><\/b> of the digital economy in India and its bright forecast.<\/span>\u00a0<\/span><\/p>\n

What is the way forward to ensure fair competition?<\/span><\/b>\u00a0<\/span><\/h5>\n

Some level of<\/span> state intervention<\/span><\/b> may be reasonable to ensure <\/span>fair competition<\/span><\/b> and the successful coexistence of smaller players. But, a fine balance needs to be struck between the <\/span>need to regulate and the freedom to innovate<\/span><\/b>.<\/span>\u00a0<\/span><\/p>\n

India must focus on developing the concept of<\/span> voluntary and informed concept<\/span><\/b> and make it compatible with the use of <\/span>Big Data<\/span><\/b>.<\/span><\/p>\n\n\n\n
Must read: Regulating Big Tech<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cGear up wisely to clamp down on important digital intermediaries\u201d published in the mint on 27th December 2022.\u00a0 Syllabus: GS3- Indian economy\u00a0 Relevance: Issue related to fair competition in market. News: The article explains the Parliamentary Committee report on anti-competitive practices by big tech companies prevalent in… Continue reading Gear up wisely to clamp down on important digital intermediaries<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,11126],"class_list":["post-220074","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-the-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704865242},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/220074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=220074"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/220074\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=220074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=220074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=220074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}