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Digital market distortions need quick corrections as industry grows in India: CCI

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New Delhi: As India emerges as one of the fastest growing and most important digital economies, the digital market needs quick fixes, India’s Competition Commission Chairman Ashok Kumar Gupta said on Sunday. news agency PTI. “With control over the data used and online real estate, digital platforms are in a unique position to shape and influence consumer choices on the one hand and direct consumer traffic to their businesses on the other,” he said, quoted by the news agency.

The gatekeeper position of these platforms raises concerns about their competition and contestability, he told the annual conference on competition law and practice organized by the Confederation of Indian Industry (CII). with the Competition Commission of India (CCI) in Mumbai. .

The consequences of this “so-called ecosystem” are multiplied by the opacity of the policies and the advantage they have over business users and potential competitors, Gupta said.

“As India emerges as one of the largest and fastest growing digital consumer bases, market distortions need to be addressed quickly. To address the enforcement and policy challenges in this regard, the regulatory framework needed to adapt and reflect the complexities of the digital marketplace, reframe the classic categories and concerns around personal and non-personal data and add other dimensions of quality and privacy, identify problems early on and cause faster corrective interventions,” he added.

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With multi-dimensional challenges, the anti-trust, analytical and conceptual framework requires the necessary adaptations to reflect the digital complexities, he said.

Another challenge that Gupta spoke about was data-related conduct which requires not only reshaping classic antitrust around personal and non-personal data as a relevant asset, but adding other dimensions of competition such as quality and confidentiality.

Referring to proposed amendments in the new Competition Bill presented to Lok Sabha on August 5 this year, he said it aimed to provide regulatory certainty, faster market corrections and a business environment based on trust.