CCI: Competition Commission is investigating against some fintech companies, chairperson said – the film industry is under watch.
The Competition Commission of India (CCI) is investigating against some fintech companies. It is also taking necessary steps to ensure a competitive digital market. CCI chief Ravneet Kaur said, in the investigation we are looking at how fintech companies are taking advantage of technology and through this are they affecting competition in the market? The regulator is also looking into some matters related to the film industry, especially film distributors, he said without giving further details.
CCI Chairperson said, awareness regarding competition law has increased among various entities. Our focus is on ‘striking the right balance between regulation and freedom’. The regulator’s focus is on a variety of sectors including fintech and online intermediary service providers along with large technology companies. It’s all about striking the right balance between regulation and freedom, he said. This ensures that the market remains competitive and works fairly for all parties involved.
Healthy competition will have a positive impact on the economy
Kaur said, eliminating market distorting activities and promoting healthy competition will have a positive impact on the economy. Innovation will gain momentum. He also said that the Commission is expediting matters related to the digital market. This will ensure a more transparent and fair digital market. However, there are also legal challenges regarding the regulatory landscape. Our focus remains on creating an environment where there is competition.
Strict changes have come on Google
When asked about the impact on the market after an important decision of CCI against Google, the CCI chief said, there has been a lot of change. Companies are realizing that they cannot get away with engaging in anti-competitive activities.
