The spike in allegations of monopolistic practices by Western technology behemoths has raised the question of whether Big Tech should be regulated in India today.
Amazon, Apple, Google, Facebook, and Microsoft, dominate online search, advertising, social networking, and shopping, and are said to pose a threat to the Indian tech startup ecosystem by putting consumers’ data at risk, and raising issues of privacy, and national security.
Industry experts, who spoke at the Asia PE-VC Summit 2020 organised by DealStreetAsia in November, felt that while Big Tech needs to be regulated to support, hold, and groom the growth of homegrown startups and the tech ecosystem, the interest of consumers must also be protected.
“Firstly, there should be regulation. Second, there should be a regulator,” recommended Anand Lunia, founding partner, India Quotient at the panel discussion titled ‘Should India Regulate Big Tech to Grow Its Local Startup Tech Ecosystem.‘
He was joined by Rajesh Sawhney, founder & CEO, GSF Accelerator in the panel, who felt that the role of the regulator should be to create enough competition and give consumers more choices.
Watch the video of their talk here: