India’s digital market has experienced a remarkable transformation in recent years, driven by increasing internet penetration, smartphone adoption, and changing consumer behaviour. This digital revolution has not only connected millions of people to online marketplaces.
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner, the finance ministry said in a tweet.
Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
The Ministry of Corporate Affairs said on Tuesday it would look into competition issues in digital markets while the Ministry of Electronics and Information Technology (Meity) will deal with sector-specific and technical issues.
While MeitY is slated to come up with the Digital India Bill which would supersede the Information Technology Act 2000, an MCA-appointed panel is working on the Digital Competiton Law a separate law that is aimed at tackling Big Tech firms anti-competitive practices.