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CCI chief warns of tough measures against e-commerce companies that violate laws: report

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CCI chief warns of tough measures against e-commerce companies that violate laws: report

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India’s Competition Commission (ICC) will take strict action against any e-commerce company that breaks the country’s law in terms of conduct and policies, said ICC chairman Ashok Kumar Gupta.

In a recent blow to Amazon, ICC withdrew its 2019 approval for the U.S. e-commerce giant to invest in Future Group, a move that would have thwarted attempts by Reliance Industries Ltd (RIL) to take control. The business assets of the Future Group. Imposing a 200 crore fine on Amazon on December 17, the antitrust body said Amazon’s deal with Future will remain on hold as the US e-commerce giant misled regulators about its investment intentions in Indian society.

“The order appears to have given the ICC new power to keep the approval of the combination on hold,” Shweta Dubey, a former ICC official, told Mint earlier.

Speaking to The Economic Times, Gupta said the ICC rulings would provide regulatory guidance to all stakeholders, although he declined to comment on specific cases.

“Companies are expected to align their conduct and policies with competition law and the regulatory guidance provided by the ordinances,” Gupta told ET, adding that there would be no interference with them. legitimate business practices.

Earlier this year, Gupta said digital markets had become areas of “entrenched and unchecked domination” and that it was difficult to apply competition law to such disruptive technologies.

The network effect of these digital markets can prevent an established player from being replaced by a new company, according to PTI citing Gupta.

Reiterating similar concerns, Gupta said concerns about anti-competitive behavior are heightened due to the nature of digital markets.

It is the responsibility of anti-competitive watchdogs like CCI to ensure that new players have the opportunity to enter such concentrated digital markets and competition between digital platforms is based on their merits, said the head of the CCI.

(Edited by : Shoma bhattacharjee)

CCI chief warns of tough measures against e-commerce companies that violate laws: report

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