India's Digital Competition Bill, 2024 – The Need For Caution

The debate around the regulation of the tech giants is not new. Nor is it confined to India. These are global companies operating across the world in various geographies. While they have in many ways contributed to society and transformed the way we lead our daily lives, these companies have been accused of accumulating immense economic and market power and abusing that power.

Enforcement by authorities

The EU Competition Commission has been in the forefront of enforcement against the Big Tech. Only recently, the EU imposed a penalty of over EUR 1.8 billion on Apple for abusing its dominant position in the market for the distribution of music streaming apps through its App Store, including for imposing 'anti-steering provisions'. Earlier, the EC had ordered Apple to return the tax incentive of virtually EUR 13 bn that it had received from Ireland as it felt this gave Apple an unfair market advantage vis a vis its rivals.