Shrishti Verma, B.A. LL.B, Symbiosis Law School, Hyderabad
ABSTRACT
India has been considered the second fastest digital adopter, with 560 million connected digital consumers among 17 major digital economies, according to the study conducted by the McKinzie Global Institute.1 Digital economy is recent type of economy consisting of digital markets which is digital parallel drawn to the traditional markets.2 Subsequently, the pandemic circumstances entrenched the scope of digital services and goods, making people dependent on them due to their better accessibility and usage. One of the primary things that broadened the horizon of the digital eraand contributed to its blossoming was the digitalized economy. Today's marketing cannot be understood without digitalization because products and services are promoted, marketed, and are sold digitally. A vital complement to the current traditional market is the digitalized one. Mere the existence of these free digitalized markets encompassing the significant sectors led to the bloom of the competition as being an inseparable part of marketing. Arena of the market competition is handled by the Competition Laws, which uphold consumer welfare as well as the welfare of producers, retailers, and every other market participant to promote fairness and deter misuse of their dominant position or restrictive activities. The scene of intermingling competition and the digitalized economy is significant. It contains the aspect where the existing legislature can hold up to the upcoming digital economy or not. There are various digitalized industries demarcating different types of digitalized markets in various arenas. Therefore we need to understand that the pace of the competition law and the market need to be balanced so that the sustainable market environment can be created. To inspect, censor, monitor, and inject online digital anti-competitive conduct, the extent, ambit, work, and jurisdiction of competition laws surrounding the digitalized market need to be evolved.
