A Critical Study On The Expanding Scope Of Digital Markets In India & An Analysis Of The Role Of Digital Competition Bill 2024 In Identifying & Rectifying Hidden Irregularities In The Digital Markets
- IJLLR Journal
- Jan 28
- 2 min read
Bhakti Savith Salian, Chettinad School of Law
Dharshini Sankar Ganesh, Chettinad School of Law
ABSTRACT
The technological development over the years has upgraded the operation and conduct of economic activities from traditional markets to the virtual hub. The internet and the web have largely contributed to the shift in commercialisation, leading to the creation of a world of digital markets. The term Digital Market denotes any business or commercial activity operating in the digital arena. In comparison to the growth in the digital industry the development of efficient and effective laws to govern and regulate the same has been minimal. Identifying and rectifying irregularities in digital markets is difficult due to a lack of information, owing to its recent origin, giving rise to abusive practices. The Digital Competition Bill 2024 is an attempt by the union legislature to administer the operation of digital markets and address the disproportionality between the ongoing developments and the existing regulation in the digital arena. The bill's goal is to combat anti-competitive market behaviours such as self-preferencing, circumvention and steering, to ensure transparency and competition. This bill brings the concepts of ‘Systemically Significant Digital Enterprise’ and ‘Associate Digital Enterprise1’ into light. This research paper aims to outline the current status of digital markets in India and discuss the various anti-competitive practices. This paper then analyses the practicality, enforceability and need for the Digital Competition Bill by focusing on the new measures that it aims to introduce and the loopholes. It then digresses by attempting to explore other digital competition regulating acts and specifically by examining the nature and operation of the European Union Digital Markets Act. This research paper finally concludes by examining the implications of the bill and emphasising its role in achieving a balanced regulatory framework that ensures fair competition.
Keywords: Digital Competition Bill, digital markets, anti-competitive practices, systemically significant digital enterprise, self-preferencing.
