40 Indian startups including Matrimony.com, TrulyMadly, MagicBricks, and HoiChoi have signed a letter supporting the draft Digital Competition Bill (DCB). The letter praises the bill for addressing long-standing concerns about monopolistic practices by dominant digital platforms that stifle innovation, limit consumer choice, and hinder the growth of young businesses. This move contradicts the anti-ex-ante stance previously taken by the Internet and Mobile Association of India (IAMAI) and its submission on the draft bill. The startups argue that the bill’s thresholds should be revised to protect startups from unnecessary regulatory burdens while addressing the monopolistic practices of digital gatekeepers. They draw parallels to the Digital Markets Act (DMA) in the European Union, illustrating the positive impact of similar legislation in promoting fair competition and consumer choice.
The letter emphasizes the necessity of the draft DCB in light of the significant changes implemented by big tech giants like Google, Meta, and Apple in response to the DMA. These changes include Google revamping search results to prioritize independent websites, Apple allowing alternative app stores on its devices, and Meta enabling interoperability between messaging platforms. The startups’ support for the draft bill underscores the need for proactive regulation in digital markets to ensure a level playing field for all players.
