15th Annual Day Celebrations Of The Competition Commission Of India:
At the 15th annual day celebrations of the Competition Commission of India (CCI), the Chairperson stressed upon the tendencies of digital markets towards market concentration leading to monopolistic tendencies.
Highlights of the Event:
- According to the CCI Chairperson,the control of digital platforms over large datasets can create barriers to entry for new players, compromise platform neutrality, and lead to algorithmic collusion.
- Attorney-General for India also highlighted that the monopoly of e-commerce platforms over user data “can be an area for scrutiny” and the need for new ideas to balance the free market and social benefit, requiring legal innovation.
- For the future, the digital economy offers immense opportunities for innovation, growth, and consumer benefit but has challenged traditional competition law frameworks worldwide.
- In the context of digital markets, the importance of tools like behavioural economics to understand human preferences was also highlighted.
