2 weeks Ago
By T E Raja Simhan Comments READ LATER Representing a unified front, nearly 40 Indian startups have voiced their strong support for the draft Digital Competition Bill. This proposed legislation, is aimed at curbing anti-competitive practices of big tech companies. “We see it as a catalyst for creating a fairer and more competitive digital ecosystem in the country, one that allows startups to thrive,” the companies said in a letter to Manoj Govil, Secretary of the Ministry of Corporate Affairs (MCA).
The companies, including Matrimony.com, TrulyMadly, Innov8, QuackQuack, Magicbricks, Hoichoi, and Medibuddy, have written to the Ministry of Corporate Affairs saying that the Bill is a step in the right direction and will address the long-standing concerns of Indian startups by reigning in practices that stifle innovation, limit consumer choice, and hinder the growth of young businesses. While requesting that the government move forward with the Bill at the earliest and not give in to delay tactics, the startups have also asked for an upward revision of the thresholds for designating Systematically Significant Digital Enterprises (SSDEs).
They have argued that the Bill should only target the real gatekeepers of the internet - firms that have long enjoyed dominant positions, accumulating extensive resources and influence to shape the rules of the digital ecosystem. By narrowly targeting the new law, the government can rein in monopolistic practices while making sure that Indian.
