After the parliamentary panel suggested in June that India should choose "gatekeeper" platforms for closer examination of anti-competitive behaviour, Metaverse has now informed the panel that the implementation of the gatekeepers norms will have a deterrent effect on Indian businesses. On August 23, the major tech firms, including Meta, Google, Microsoft, Amazon, and Netflix, as well as others, met with the parliamentary commission amid accusations of anti-competitive behaviour.
Along with major tech businesses, a parliamentary panel summoned numerous Indian tech firms last month for anti-competitive activity and market monopolisation, including Flipkart, MakeMyTrip, Ola, Paytm, Swiggy, and Zomato. Notably, domestic tech players claimed that major tech companies were engaging in "unfair trade practises."
According to Moneycontrol’s report, Meta added, that big firms may close the gap in digital connectivity by supplying connectivity to far-flung areas and promoting digital adoption. It is learnt from the report that Meta claimed that if the gatekeeper regulations were implemented, it would be difficult for it to operate in India. The major players in technology have allegedly formed a duopoly. The panel has earlier stated that "specialized and targeted regulation" was needed for some internet platforms.
Currently, the European Union has "Gatekeeper norms" in place to prevent huge digital companies from acting in an anti-competitive manner. These standards are used by businesses with a sizable user base. In the monsoon session of this year, the Indian government introduced the Competition Bill, 2022, which makes several changes to the current Competition Act, 2002, in order to enforce Gatekeeper standards in India.