Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit

Big Tech Officials to Appear Before Parliamentary Panel on Tuesday

According to media reports, officials from Meta, Google, Amazon, Apple, Uber and Netflix will appear before a parliamentary panel investigating anti-competitive practices in the digital space. The Parliamentary Standing Committee on Finance has looked at all aspects of market competition, especially those related to tech giants.

In July, the panel convened executives from several tech companies to discuss their market practices in the wake of allegations of unfair market practices.

Companies such as Flipkart, MakeMyTrip, Ola, Paytm, Swiggy and Zomato told parliament that big tech companies such as Google and Facebook unfairly advertise the products, services or lines of business of their platform operators. They also warn that Big Tech is on the verge of becoming a duopoly.

The companies claim that Big Tech discriminates in terms of service, distorting competition.

Tech companies are also asking search engines like Google to clarify how businesses get top ratings and how certain search results are discarded.

Earlier, the committee held meetings with smaller companies and industry associations, including restaurants and small sellers, to understand the behaviour of big tech companies.

Get Daily Prediction & Stocks Tips On Your Mobile