In response to the 53rd report of the Parliamentary Standing Committee on Finance, which addressed concerns regarding anti-competitive practices by major tech conglomerates, the Ministry of Corporate Affairs (MCA) has taken a proactive step by constituting the Committee on Digital Competition Law (CDCL). Chaired by the Secretary of MCA, this committee was tasked with exploring the necessity for a distinct legislation to address competition issues within digital markets.
Following diligent deliberations, the CDCL has submitted its comprehensive report along with the Draft Bill on Digital Competition Law. In an effort to ensure transparency and inclusivity, the MCA is now inviting public comments on the aforementioned report and draft legislation.
The report and Draft Bill are available for review on the MCA’s website under the section ‘Data & Reports [Reports>>>Library(Expert Committee Reports)]’, accessible via the following link: MCA Report and Draft Bill.
Additionally, interested stakeholders can access the documents through the MCA’s ‘e-Consultation module’ on their website. The Ministry encourages individuals and organizations to submit their comments and suggestions through this module by April 15, 2024.
This initiative underscores the MCA’s commitment to fostering a collaborative approach in shaping legislation that addresses the complexities of digital competition while safeguarding consumer interests and promoting fair market practices.
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