Impact on small businesses and traders in India
It exposed the dominant behavior of companies. Companies hurt small businesses and traders to increase their business. The unethical use of personal data of ordinary citizens gathered with them has eliminated competition. Now the sword of action is hanging in the US Parliament. If this happens, it will also have an impact on India. Because these companies are also working with us on a large scale.
The question is arising that can India also take any action on these companies? In India too, the same type of rights plaintiff is behaving in a monopoly dispute, other companies will also be brought into action.
Meanwhile, there have been fresh allegations on Facebook and Twitter that they allowed their social media platform to be used in the US in favor of Donald Trump’s rival Joe Biden. On this, Trump spoke about the division of these companies on Wednesday. Like the US, these tech companies were accused of influencing public opinion in India. Last month, a former Facebook employee reported that the platform was interfering with India’s political activities.
New rules to break the monopoly in US Congress
From business to democracy, these companies gave us the strength to intervene, as they have created a monopoly in their respective fields. In the US Congress, anti-competitive rules have been created to break this monopoly. New standards are going to apply to these. The Competition Commission of India was created in India to monitor this. It is expected that tough steps can be taken here like in the US.
Understand Amazon’s example …
Sales only 5 percent, occupy 40% market
The US Congress, in an important disclosure on e-commerce website Amazon, said that Amazon sells only 5% of its own products in the electronic and beauty sector of its e-commerce platform. Nevertheless, it occupies 35 to 40% of the market of this sector. Only 2 percent of the kitchen for home appliances are its products. But around 30 percent of these products are sold. It has its own model for this monopoly in which Amazon is making unethical use of the data stored with the products of the small businesses that customers like.
What do consumers really benefit
Huge discounts and a lot of freebies are being received, so why should ordinary citizens worry? In 2016, Reliance Jio launched 4G service in India in which consumers were given free internet and calling services for about 1 year. Results At one time, more than 15 telecom companies were serving in India, today only 3 are left. In the past year, these companies have announced several times to increase rates.
Just before the epidemic, in the report of the Competition Commission of India this year, Flipkart and Amazon were announced to be investigated for selling various smartphones through their e-commerce platform. In the epidemic, e-commerce not only grew rapidly, but foreign investment in it also increased manifold. Experts see it as a monopoly.