Centre sets up inter-ministerial Panel for drafting Digital Competition Act
The panel has been set up less than two months after, the standing Committee on Finance, headed by BJP MP Jayant Sinha, recently recommended the enactment of the Digital Competition Act to curb anti-competitive practices in the digital markets.
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New Delhi, February 07: In a crucial decision, the Centre on Monday constituted a 16-member inter-ministerial committee to examine the need for a separate law on competition in digital markets. The panel has been tasked with submitting its report, including a draft Digital Competition Act, within three months, sources close to the development said.
The panel has been set up less than two months after, the standing Committee on Finance, headed by BJP MP Jayant Sinha, recently recommended the enactment of the Digital Competition Act to curb anti-competitive practices in the digital markets.
According to the order issued by the corporate affairs ministry on Monday, Competition Commission of India (CCI) Chairperson will be part of the panel apart from experts in different fields.
The panel will review whether existing provisions in the Competition Act, 2022, and the rules and regulations framed thereunder are sufficient to deal with the challenges that have emerged from the digital economy.
As per the order, the practices of leading players/ Systemically Important Digital Intermediaries (SIDIs) which limit or have the potential to cuase harm in the digital markets will also be looked into by the committee.
Other members of the committee are Nasscom Co-Founder and Indian Angel Network Chairman Saurabh Srivastava, Professor of Economics (Retd) Delhi School of Economics Aditya Bhattacharjea, Khaitan & Co’s Haigreve Khaitan, IKDHVAJ Advisers LLP’s Harsha Vardhana Singh, Shardul Amarchand Mangaldas & Co’s Pallavi Shardul Shroff, P&A Law Offices’ Anand S Pathak, Axiom5 Law Chamber’s Rahul Rai and a corporate affairs ministry’s joint secretary.
As per the order, the panel’s chairperson can co-opt any other person as a member/special invitee as and when required.
According to the order issued by the corporate affairs ministry on Monday, Competition Commission of India (CCI) Chairperson will be part of the panel apart from experts in different fields.
There will also be representatives from Niti Aayog, Department of Commerce, Department of Economic Affairs, Department of Consumer Affairs, Department for Promotion of Industry and Internal Trade, and the Ministry of Electronics and Information Technology.
Ministry of Corporate Affairs (@MCA21India) sets up a #Committee to examine need for a Digital Cmpetition Act
— CNBC-TV18 (@CNBCTV18Live) February 6, 2023
◼️Committee to #examine the Competition Law to see if there are enough safeguards to address challenges arising from #digital markets@Parikshitl pic.twitter.com/kcCt3UZsbu
Further, it will study the international best practices on regulation in the field of the digital markets as well as other regulatory regimes/ institutional mechanisms/ government policies regarding competition in the digital markets.
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As per the order, the practices of leading players/ Systemically Important Digital Intermediaries (SIDIs) which limit or have the potential to cuase harm in the digital markets will also be looked into by the committee.
Other members of the committee are Nasscom Co-Founder and Indian Angel Network Chairman Saurabh Srivastava, Professor of Economics (Retd) Delhi School of Economics Aditya Bhattacharjea, Khaitan & Co’s Haigreve Khaitan, IKDHVAJ Advisers LLP’s Harsha Vardhana Singh, Shardul Amarchand Mangaldas & Co’s Pallavi Shardul Shroff, P&A Law Offices’ Anand S Pathak, Axiom5 Law Chamber’s Rahul Rai and a corporate affairs ministry’s joint secretary.
As per the order, the panel’s chairperson can co-opt any other person as a member/special invitee as and when required.
Bharati Web
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