A soft law approach can regulate Big Tech well enough

As a standard pra ctice, competition enforcement is an ex-post activity, except in cases of merger regulation. However, in the case of Big Tech, following a Parliamentary Committee’s report, it is being proposed that enforcement can be done ex ante: i.e., before a violation takes place. There is a global debate on this and we too need to take note of it to ensure that we have economic democracy in our tech markets. These new economic giants work with deep pockets. We also need to take into account our unique domestic innovations, such as the Open Network for Digital Commerce (ONDC), account aggregators system and Unified Payments Interface (UPI).

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