FM: CCI fully alert about monopolistic practices
Addressing the 16th 'Annual Day Celebrations' of the market watchdog here, FM Sitharaman said that competition drives efficiency, nurtures innovation and benefits consumers. Artificial Intelligence technologies raise novel questions about market power, transparency, data access, algorithmic biases, and the scope of competitive harm. 'Free and fair digital markets are challenged by the emergence of gatekeeper platforms, asymmetries in data access and cross-border implications of digital business models. The rise of cross-border digital monopolies demands global cooperation and agile regulation,' according to the minister.
Amidst concerns and complaints over predatory pricing ways, Competition Commission chief Ravneet Kaur pointed out that earlier this month, the Competition Commission of India (Determination of Cost of Production) Regulations, 2025 was notified. Kaur said it was very essential to have a consistent approach for determining the costs, especially when it comes to digital markets and platforms on predatory pricing and deep discounting. According to Kaur, CCI has been proactive in recalibrating its regulatory tools and framework to respond effectively to the complexities of the digital markets, globalisation and evolving business models. 'CCI is committed to ensuring that there is market access for small businesses, encourages innovation, prevents monopolistic practices and promotes digital inclusion,' she noted.
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The Print
7 minutes ago
- The Print
Blanket ban on online money games to e-sports push, how new Bill proposes to alter gaming space
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Mumbai-based technology and gaming lawyer Jay Sayta told ThePrint that traditionally, there has been a difference between skill-based and chance-based games, and that any game played online, if it was a game of skill, was permitted so far, even if it involved money. Sayta has represented online gaming companies in courts. 'But this bill makes no difference between online games of skill and chance. It says whether it is a game of skill or chance, any game played for stakes or money or money's worth is called an online money game, and there is a prohibition on such games, including endorsement, banking services, etc for them,' he said. The bill, therefore, proposes a complete ban on any online game played with money or money's worth, with the expectation of winning anything. This would impact all real money gaming apps, including Dream11, Rummy, Ludo, Winzo or Zupee. The bill carves out an exception, allowing e-sports like Dota 2 or Counter-Strike, and online social games, like Candy Crush or Ludo, which are purely for recreational or educational purposes, and don't involve money. India has a patchwork of laws on the issue currently, with several states, including Karnataka, having enacted different laws on online gaming, and high courts having given different rulings on such laws. This is because gambling & betting is a state subject under the Constitution of India. What the bill bars The new bill intends to prohibit 'online money games', which allow users to deposit money in the hope of making more money, and online money gaming services. According to the definition sought to be introduced in law, an 'online money game' would include an online game—irrespective of whether such a game is based on skill or chance or both— in which users pay fees, deposit money, or other stakes, in expectation of monetary returns. Anybody offering online money gaming services can be punished with a three-year jail term or a fine of up to Rs 1 crore or both, according to the draft bill. It also prohibits advertisements related to online money games in any media, purportedly including WhatsApp, or by social media influencers. Anybody who contravenes this can be punished with a two-year jail term or a fine of up to Rs 50 lakh or both. Additionally, the bill prohibits banks and financial institutions from facilitating any transaction or funds towards payment for any online money gaming service. Violation of this provision allows for punishment of up to three years or a fine of Rs 1 crore or both. Repeat offences can attract enhanced penalties, including imprisonment of three to five years, and fines up to Rs 2 crore. The bill also allows for blocking access to unlawful gaming platforms under the Information Technology Act, 2000. What the bill allows The draft bill proposes to empower the central government to take steps to recognise e-sports as a legitimate form of competitive sport in India. According to the draft bill, e-sports means an online game which may involve organised competitive events between individuals or teams, conducted in multiplayer format. These include games recognised by the National Olympic Committee or National Paralympic Committee or National Sports Federation or Regional Sports Federation. However, such an e-sport should not involve placing of bets, wagers or any other stakes by any person. Several Esports tournaments have come up in the past few years, including the Commonwealth Esports Championship 2022, in which the Indian Dota 2 team won the bronze medal. The bill also empowers the central government to take steps to recognise, categorise and register 'online social games' and facilitate their development and availability for recreational and educational purposes. 'Online social game' may include an online game which does not involve staking of money or other stakes, or participation with the expectation of winning in return of money. Such games are offered solely for entertainment, recreation or skill-development purposes. The game may allow access through payment of a subscription or a one time access fee, as long as the payment is not in the nature of a stake or a wager. The draft bill goes on to establish or designate an authority for recognition, promotion and development of e-sports and online social games. (Edited by Nida Fatima Siddiqui) Also Read: Spotlight on online gaming amid fraud, money laundering cases. MHA, MeitY & ED to firm up regulations
Time of India
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Mint
37 minutes ago
- Mint
Online Gaming Bill 2025: Companies warn of massive job cuts, closures — a look at industry size, impact
The online gaming industry is up in arms over the Promotion and Regulation of Online Gaming Bill, 2025, which aims to ban all real-money games, including skill-based ones. Industry insiders warn that this sweeping ban could cripple the sector, leading to over 20,000 job cuts and forcing more than 300 companies to close their doors. The move, they say, puts the future of one of the country's most dynamic digital industries at serious risk. The 14-page bill drafted by the Union Ministry of Electronics and Information Technology (MeitY) was tabled in the Lok Sabha on Wednesday, 20 August, by Minister of Electronics and Information Technology Ashwini Vaishnaw. It describes 'online money game as an online game irrespective of whether such game is based on skill, chance, or both, played by a user by paying fees, depositing money or other stakes in expectation of winning, which entails monetary and other enrichment in return of money or other stakes; but shall not include any e-sports'. 'There are more than 20,000 current jobs at risk, with a possibility of over 300 companies shutting down. Around 50% of franchise domestic/national level sports leagues may be closed and sponsorship revenue loss for teams & leagues could range from 30 to 40%,' an industry source told The source added, 'Non-cricket & grassroots sports may collapse without real money gaming advertisers. The impact of it could lead to a decline in ad spends, with lower sports broadcasting/media revenues.' According to venture capital firm Lumikai, the Indian gaming market is valued at $3.8 billion and could increase to $9.2 billion by 2029. It reportedly employs more than 130,000 skilled workers. 'The industry has been consistent in voicing its primary concern: that a blanket ban equates legitimate, regulated, skill-based gaming platforms with predatory gambling models. Overregulation through a blanket ban could stifle innovation in a sector where India has the potential to lead globally,' Ganesh Prasad, Partner, Khaitan & Co told Livemint. He added, 'From a policy standpoint, it's also worth noting that predictability and stability in regulation are critical for investor confidence. Sudden prohibitions without a clear long-term roadmap risk deterring capital and talent from entering India's gaming ecosystem.' The government said the rapid increase of online money games has 'deleterious effect on families, society, and the economy' and further noted that in certain cases, these platforms have been linked to illegal activities like money-laundering, financial fraud, the financing of terrorism, and use as messaging platform for terrorist and terrorist organisations, which poses risk to the security and sovereignty of the state. The ministry, in the proposed law, said 'the immersive and addictive nature of online games, particularly with monetary incentives, has led to significant mental health issues among users — especially children, adolescents and young adults", adding that 'clinical evidence and field studies have shown a rise in anxiety, depression, sleep disorders, and behavioural problems linked to prolonged gaming'. The government is set to impose a ban on the offering of online real-money games by any person. Non-compliance with this regulation could lead to a prison sentence of up to three years and a fine of ₹ 1 crore. Additionally, those involved in promoting these platforms, including social media influencers, may face up to two years of imprisonment and a penalty of ₹ 50 lakh. The bill comes against the backdrop of the Centre's move to levy a 40% Goods and Services Tax (GST), up from 28%, on online gaming in the revamped regime around Diwali.
