Navigating New Frontiers: Competition Law And Digital Markets In Light Of The Digital Competition Bill 2024
- IJLLR Journal
- Aug 22, 2024
- 2 min read
Nandini Chandak, New Law College, Bharti Vidyapeeth, Pune
ABSTRACT
The rapid evolution of digital markets has posed unprecedented challenges to traditional competition law frameworks. With the proliferation of tech giants, platform economies, and data-driven business models, existing regulatory mechanisms have often struggled to keep pace with the dynamic nature of the digital economy. This paper, titled "Navigating New Frontiers: Competition Law and Digital Markets in Light of the Digital Competition Bill 2024, " explores the intersection of competition law and digital markets in the context of the recently proposed Digital Competition Bill 2024.
The paper begins by examining the current state of the digital economy in India, highlighting various initiatives undertaken since 2015 to transform the country into a digitized economy. It underscores the critical role of data in digital markets and explores the issue of dominance within these markets, analysing different methodologies employed by various jurisdictions to determining such abuse. The paper also elaborates on the economic principles unique to digital markets, which set them apart from traditional physical markets.
Further, the study delves into the impact of mergers and acquisitions within the digital sector, particularly focusing on their implications for startups and MSMES. It addresses the challenges related to Mergers and Acquisition in digital markets and discusses the evolution of digital laws in the European Union, with a specific focus on the EU Digital Markets Act. The paper also explores recent amendments to M&A regulations aimed at addressing the challenges posed by the digital economy.
In conclusion, the paper argues for the necessity of the Draft Digital Competition Bill and assess whether the Indian digital markets are prepared for such ex-ante regulations. It evaluates weather the existing framework is capable of addressing anti-competitive practices in digital markets and considers the concerns raised by various stakeholders regarding the Bill. This research seeks to provide insights into the effectiveness in navigating the complexities of the digital market landscape.
