In order to examine the competitive behavior of the social media and tech giants, the parliamentary panel summoned known representatives from Google, Microsoft, Amazon, and Twitter, for the probe into “anti-competitive” practices. According to the meeting, the next meeting of the panel will be held on May 12. The issue was discussed in detail by the Parliamentary Committee on Finance after a presentation was made before it by CCI.
The reports further suggest that the committee is in the process to bring up a new bill to amend the CCI act, mainly to deal with the anti-competition practices by the social media and tech giants. “In our next hearing (on this issue), we will be calling most of the maj0r tech companies to hear their perspective and how the competition law in India is evolving to address the needs and challenges associated with the digital space,” said Jayant Sinha, the panel chairman.
He further continued, “With the rise of digital markets and the importance of digital economy for India’s growth and global position, it is very important to look at our competition law to see if it is equal or unequal to those in advanced jurisdiction like European Union, United States, Australia, and United Kingdom.”