Meta says enacting gatekeeper norms in India will have chilling effect on start-ups

According to people with knowledge of the developments, Meta (formerly Facebook) warned a parliamentary panel that the implementation of “gatekeeper” norms similar to those being considered in the European Union (EU) could stifle innovation and have a chilling effect on Indian startups, making it more difficult for them to grow or be acquired.

This is in response to a series of requests by the House Finance Committee about the anticompetitive practices of major technology companies such as Meta, Google, Microsoft and Amazon.

Anti-competitive Access Control Standards are regulations that apply to digital platforms with large user bases and high transaction volumes. Although not yet in force, these regulations are part of the European Union’s Digital Markets Act.

Last month, representatives from Meta, Google, Amazon, Apple and others testified before the congressional finance committee investigating anticompetitive behavior in the digital sector.

They were interviewed about the definition of the market in which they operate, competition issues related to their overseas operations, the design of content delivery algorithms, and their views on competitive regulation. painting.

Following allegations of unfair trading tactics, the panel called senior executives from various Internet companies to discuss their conduct in the marketplace. Companies like Flipkart, MakeMyTrip, Ola, Paytm, Swiggy, and Zomato testified before the committee that Big Tech companies like Google and Facebook promoted the goods, services, or businesses of platform operators. their platform unfairly. They also warn that the big tech players.