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Paytm in favor of ex-ante regulations in India for large digital companies

Paytm also suggested setting up of a digital markets regulator that must seek an annual compliance report from large digital enterprises. 

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Paytm is in favor of ex-ante regulations in India for large digital enterprises that have a critical mass such as a certain specified revenue and a certain number of users, the fintech company said in its submission made to the Committee on Digital Competition Law (CDCL).  Paytm said that it had observed practices wherein large digital enterprises abused their dominance in the market. It claimed that bundling services of app store operators creates asymmetric pricing and binds app developers into only using their services. Further, app stores charged high commissions which affected business viability and increased customer costs. App stores use anti-steering provisions that restrict choices for developers and also have control over the app reviews and search algorithms, which could provide avenues for self-preference of their own apps at the expense of others, it added. A report by the CDCL on the matter of ex-ante regulation in India, along with the draft Digital Competition Bill, 2024, was released by the Government on March 12.  The draft bill, similar to the EU’s Digital Markets Act, prohibits large digital platforms, identified as Systemically Significant Digital Enterprises, from engaging in self-preferencing, restricting third-party apps, imposing anti-steering policies, misusing the data of business users, and bundling products and services. The draft is open for public feedback until April 15.  Ex-ante regulations aim to prevent anti-competitive conduct from occurring, as opposed to the current ex-post framework under the Competition Act, 2002, wherein the Competition Commission of India (CCI) intervenes after the occurrence of anti-competitive…

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