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Towards a Better Digital Market Governance
Looking into the efficacy of the European Union’s Digital Markets Act, a model for platform regulation is suggested for India. Ensuring a level playing field in the Indian digital markets could pose a challenge, where the Competition Commission of India needs to cater to the interests of the consumers as well as the industry and ensure economic democracy for new players, big or small, in the market.
For carrying out a comprehensive analysis, the article points out the diverse existing regulatory framework in leading jurisdictions of competition law. Relevant details about the current jurisprudence of competition and antitrust laws in countries like the United Kingdom (UK), the United States (US), Germany, and India have been produced. The primary purpose of this exercise is to highlight why the proposed “gatekeeper model” should not be considered a benchmark for other jurisdictions. The exercise is advisory and suggestive in nature, outlying the possible measures to promote competition and innovation in the digital market. It addresses various crucial questions like the choice between ex ante and ex post regulations, and also seeks to delve into the rationale of the premise of the act, which bears semblance to the provisions for abuse of dominance in the digital market and the very paradigm of a competitive market. The article further seeks to elaborate on the viability of the model of the designation of big technology giants as “gatekeepers” in India. The article shall explore a plethora of options to tackle the loopholes perpetrating the current competition law regime. The policy shall be exhaustive and inclusive of the interests of all the stakeholders.
Existing Jurisprudence
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