The Draft Digital Competition Bill, 2024: Legitimate Guardrails Or Regulatory Overreach?

Digital markets are an important component in India's developmental journey. In 2023, the information and communications technology sector contributed to over 13% of India's GDP. Technological innovation has immensely enhanced benefits available to consumers while reducing costs for enterprises. India is the world's fourth largest exporter of digitally delivered services, constituting over a fifth of global trade in services; and this sector provides employment to around 5.4 million people, mostly educated youth. Digital services are fast becoming integral to India's 700 million plus internet users (including 350 million digital payment users and 220 million online shoppers) and are on a path to reach a USD 1 trillion consumer internet economy by 2030. An ever increasing number of global companies are setting up research or global capability centres (GCCs) in India. As per a renowned consultancy firm's estimate, the number of GCCs in India has expanded from 700 in