ECONOMICS OF COMPETITION LAW
ET 40 Under Forty 2024: Celebrating India's top young business leaders
The Economic Times 40 Under Forty list features a diverse group of young business leaders, including entrepreneurs, professionals, and innovators from various industries. These individuals have made significant contributions and are shaping the future of business in India. Learn more about their inspiring journeys and accomplishments.
AI will keep India's manufacturing sector globally competitive: Abhyuday Jindal, MD, Jindal Stainless
AI and Industry 4.0 improve manufacturing with process optimization, predictive maintenance, and digital twins. AI enhances analytics, quality control, and productivity by 14%. Projected $3.8 trillion gains by 2035. AI, IoT, robotics foster sustainability, energy efficiency, and zero emissions. Worker upskilling crucial for Industry 4.0. Data privacy and climate change are key concerns.
Apple is first company charged under new EU competition law
Apple is facing intense regulatory scrutiny globally, with charges in the EU, legal battles in the US, and regulatory actions in Britain, signaling a turbulent period for the tech giant in various markets.
Facebook owner Meta respects the law only when it suits, says Australia minister
Australia's financial services minister said that Meta, owner of Facebook and WhatsAPP sees itself above the law, harming economies and democracy worldwide with its anticompetitive actions. Assistant Treasurer Stephen Jones criticised Meta's behavior as a "corporate bully," especially its stance on licensing deals with Australian news media. After Canada introduced a similar law in 2023, Meta blocked links to news content in the country.
ET Circle: Cyril Shroff’s time-honoured lessons in law, legacy, and leadership and crafting timeless institutions
In this episode of the ET Circle multimedia series, discover what differentiates leading a legal services firm compared to a conventional business, the significance of a value system for building institutions that outlive physical assets, and enduring leadership lessons that blend the purity of purpose with resilience, the spirit to absorb adversities, and the vision to lead with empathy. Learn these invaluable insights from none other than Cyril Shroff, the Managing Partner at Cyril Amarchand Mangaldas, a legal services firm with a rich heritage spanning over a century.
Stocks to buy after Lok Sabha Elections Results 2024: 5 stocks with up to 23.2% upside potential
While the 4 June crash eroded investor wealth, it may have eased stretched valuations. Experts believe the BJP-NDA government’s economic agenda will largely remain unchanged, though some priorities will be adjusted. Even before the election-induced jolts, the markets had been witnessing volatility. To counter the near-term shocks, invest in companies that have shown stability in the past.
- Go To Page 1
Has India’s toy story started to falter?
After hitting a high of $177 million in the financial year 2022, India’s toy exports are seeing a fall. To add to the pain, imports are also rising.
Indian AI firms may face extra costs as EU’s AI Act kicks in
The European Union wrapped up approval of the world's first law governing AI development last week. This legislation takes a tiered approach, setting varying compliance timelines and regulations based on the potential risk each AI system poses. Generally applicable AI will have a year to comply, while high-risk systems get up to three years.
View: Raise a glass to the job creators
In a recent interview, Narendra Modi emphasized the importance of supporting businesses and avoiding demonization. The Prime Minister's stance received positive feedback, contrasting with past socialist inclinations.
National security has become crucial to many economic transactions: Jaishankar
Rooting for multipolarity and the role of India, the minister said, "The transformation of India is critical to strengthening multipolarity in Asia itself, a prerequisite for a multipolar world. India's growing weight will ensure that the overall balance in the world order remains in favour of freedom, openness, transparency and a rules-based order."
A new trade war offers no easy way back for old global order
The US-China trade war has intensified with the use of tariffs and subsidies, impacting Europe and China. US Treasury Secretary Janet Yellen has warned of global business risks.
If Modi is re-elected, these sectors will get his most attention
Prime Minister Narendra Modi has pledged to propel India to become the world's third-largest economy if re-elected for a third term. His ambitious 100-day agenda post-election includes prioritizing manufacturing, new-age technology, infrastructure development, and clean energy sectors. The government aims to implement reforms to boost economic growth and attract foreign investment.
Flat stuck in a delayed or stalled real estate project? Six things aggrieved homebuyers can do
Homebuyers stuck in stalled real estate projects face financial strain and uncertainty. They pay EMIs and rent while bearing the loss of opportunity cost. If you have property in a delayed or stalled real estate project, here are some things you can do as a home buyer.
CCI to boost strength for better oversight of digital, other sectors
The regulator is firming up a proposal to enhance its strength to strictly enforce regulations under the amended competition law of 2023, which has significantly widened the scope for oversight. On top of this, it is also planning to bolster its oversight of the digital market by adding quality manpower should the government come out with a new digital competition law and give it the oversight responsibility, said the person.
CCI chief flags 'opacity of algorithms', potential 'data dominance' concerns in digital markets
Competition Commission of India (CCI) chief Ravneet Kaur highlighted the opacity of algorithms in assessing their impact on competition, emphasizing the need for competition law to evolve in digital markets. The CCI is closely monitoring digital markets to combat anti-competitive practices. Kaur also announced a forthcoming market study on Artificial Intelligence during the 15th annual day event.
Downsides of coalition govt are as exaggerated as virtues of single-party rule
Most people equate a government by a single party that enjoys a majority in Parliament with political stability, efficient decision-making and living happily ever after. In this view, coalitions carry the risk of instability, erratic policy and economic woes. India's own recent history shows that such views are unfounded.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
Centre seeks SC clarification on if it could allocate airwaves without competitive action to address 'unanticipated' priorities
The government sought SC clarification on administrative allocation of airwaves, proposing it for state priorities like national security or when auctions aren't viable due to techno-economic reasons. Referencing SC and Presidential directives, it highlighted spectrum's diverse uses beyond commercial telecom, advocating for flexibility in allocation methods.
Countries should undertake process reforms to improve economic and policy efficiency: Sanjeev Sanyal
Sanjeev Sanyal, member of the Economic Advisory Council to the PM, emphasized the need for governments worldwide to assess processes under various regulations periodically. In a joint working paper, he highlighted the importance of process reforms, defining them as microeconomic changes aimed at enhancing efficiency in specific sectors or issues.
CCI conducting enquiries against some fintech entities: Chairperson Kaur
CCI Chairperson Ravneet Kaur disclosed ongoing investigations into fintech entities to examine their technology leveraging impact on competition, emphasizing the regulator's commitment to ensuring a competitive digital market. With an eye on big tech and various sectors, including film distribution, CCI aims to address market distortions, fostering innovation and economic growth
CCI orders probe in to Google’s Play Store billing policies
In a 21-page order, antitrust regulator Competition Commission of India said that prima facie, Google has violated provisions of the Competition Act, which warrants a detailed probe into the matter.
ETtech Explainer: Why does X support proposed digital competition law while Meta, Google, Apple oppose it?
The Committee on Digital Competition Law (CDCL), formed by the Ministry of Corporate Affairs, had on Tuesday proposed a new digital competition law and prescribed ex-ante regulations to pre-emptively regulate potential abuse of dominance by larger technology companies. Why is X in favour? ET explains.
New antitrust law for large tech firms shouldn’t stifle innovation: experts
Zomato, Swiggy, Flipkart and Oyo have opposed the new regulations on digital competition proposed by a government-appointed committee. Indian companies that supported the proposal of ex-ante regulations include Paytm and MakeMyTrip, albeit with caveats.
Big Tech, few Indian entities oppose ex-ante regulation under new law; others lend their support
Digital firms including Apple, Google, Meta, Amazon, Flipkart, and Uber resisted ex-ante obligations under a new digital competition law. Some home-grown companies like Oyo, Zomato, and Swiggy had reservations, while others endorsed the framework. The Govil panel has now recommended separate digital competition legislation with an ex-ante framework after holding meetings with a cross-section of stakeholders, including the large digital players who had submitted their views.
New digital competition law proposed to regulate big tech
A high-level panel proposes a new digital competition law in India to address antitrust concerns involving big tech companies. The law applies to systemically significant digital enterprises with penalties up to 10% of global turnover. Enterprises must report their fulfilment of thresholds to the Competition Commission of India.
Will notify settlement & commitment regulations soon: CCI chief
The Competition Commission of India (CCI) will introduce new regulations on settlement and commitment mechanisms, allowing companies to resolve anti-competitive charges by filing commitment or settlement applications. Big Tech is included. Inquiries will be paused until final decisions are made within set time frames.
CCI considering boosting manpower for tighter oversight, says Chairperson Ravneet Kaur
The regulator currently has 15 officers in its two anti-trust divisions, 11 in the combination wing, five in the legal division, six in research and trend analysis, five each in economics and advocacy divisions and four in international cooperation division, among others, according to its website.
BRICS needs a joint protocol to gain control over global monopolies: Experts
The proposal to develop a unified protocol for the supervision and control of monopolies in the BRICS region was discussed at the 8th CUTS-CIRC Biennial Conference on Competition, Regulation, and Development. The conference brought together experts to discuss the role of BRICS countries in antitrust law and various topics such as healthcare, food security, employment, and climate change. The proposal aims to address the limited negotiating power of developing countries and the lack of information sharing by global companies with regulators.
Amazon antitrust lawsuit likely to be long and arduous journey for FTC
The Federal Trade Commission's long-awaited antitrust case is the agency's most aggressive move yet to tame the market power of Amazon, a company that's become synonymous with online shopping and fast deliveries.
Load More
