Wednesday, December 25, 2024

Business

Google, Amazon, Facebook faces parliamentary calls for anti-competition behavior

Google, Amazon, Facebook faces parliamentary calls for anti-competition behavior

New Delhi: With a number of global technology giants facing CCI investigations for alleged anti-competitive practices, the main parliamentary panel on Thursday decided to summon representatives of Google, Amazon, Facebook, Twitter, and others to check their competitive behavior.

The next panel meeting on this issue is likely to be held on May 12.

This problem was discussed in detail by the Permanent Parliamentary Committee members about finance after the presentation was made previously by the Indian Competition Commission (CCI).

The regulator told the panel that they were preparing a ‘digital market and data unit’ to effectively handle the anti-competing practices of large technology companies and bring new bills to change the CCI law.

CCI also quoted a number of investigations carried out in digital spaces, including those against Google, Facebook-WhatsApp, Apple, Amazon, Flipkart, Makemytrip-Goibibo, Swiggy and Zomato.

This meeting also came with a background of concern that increased globally, including in India, about the alleged practices of large technology players and technological platforms that could adversely affect competition in the market.

Regarding the meeting, Chairman of the Jayant Sinha panel told PTI that they had “a series of excellent discussions” with officials from the Ministry of Corporate Affairs, the Ministry of Electronics and Information Technology and the Indian Competition Commission.

“In our next trial (about this problem), we will call most of the major technology companies to hear their perspectives and how competition law in India develops to overcome the needs and challenges related to digital space.

“All of the large companies that we will invite … Google, Apple, Facebook, Twitter, Amazon, Microsoft and others. The competition to develop throughout the world to meet challenges related to the digital market,” Sinha said.

Sinha, a leader of BJP and former Minister of Trade Unions, said the panel would discuss the competitive behavior of these companies.

According to sources, members of BJP CM Ramesh raised the problem of cartelization among cement companies and CCI officials and their responses about this problem are expected to be in the next meeting.

In addition, the panel discusses the existing competition.

According to Mr. Sinha, the CCI law began in 2002 and was last amended in 2007.

The bill to change the law is also ongoing where the provisions tend to be introduced to handle the technological giant anti-competing practice, CCI told the panel.

“It’s been 15 years since the substantial amendment has been made for our competition law.

“With the emergence of digital markets and the importance of the digital economy for Indian economic growth and global position, it is very important to see our competition laws to see whether it is the same as those in advanced jurisdiction such as the European Union of the European Union, the United States, Australia and the United Kingdom, “Said Sinha.

According to him, today’s discussion is to assess how competition law is developing and what else is needed to position it for the future. “We as a committee are checking the direction that must be developed by our competition law to meet these requirements,” he said.

In the presentation, CCI also said that they strengthen their institutional capacity, recalibrate the competition law regime, observe global development in large technology and monitor technological developments in the digital market.

Leave a Reply

Your email address will not be published. Required fields are marked *