Parliamentary committee likely to recommend new law to prevent monopoly of Big Tech companies

New Delhi [India], August 23 : The Parliamentary Standing Committee on Finance is likely to recommend a new law to prevent monopoly and dominance in the market by Big Tech companies and to create healthy competition in the market.
The Parliamentary committee led by BJP MP Jayant Sinha today met with representatives of Amazon, Google, Netflix, Uber, Facebook, Apple and Twitter who appeared before the committee in the Parliament Annexe.
In the meeting, the panel members posed several questions to the representatives about the "loss being caused to the domestic companies due to Big Tech companies."
Many members also suggested installing firewalls on foreign tech companies along the lines of China so that domestic companies can also sustain themselves.
In the meeting on Multi-National Companies (MNC) in the tech field, the committee asked Uber, Netflix, Facebook, Google, Amazon, Apple, and Twitter about their business practices in India.
There are complaints that small businesses are being disrupted, and the big companies are ending the competition. On the allegations by members, "giant tech companies deny and say that they still control a small portion of the market."
Speaking on how to control hate speech on their platforms as it has led to riots many times, they assured the committee via an oral explanation that giant tech companies are trying to control it.
"The committee was not satisfied with the reply. The committee asked them if there is a need to keep a gatekeeper for these companies where they are entering tourism and hotel booking sectors," a source said.
"Amazon is harming the small retailers who are suffering loss. Amazon denied it, saying that it has a small share of retail business. The committee has asked them to give it in writing," a member told ANI.