All posts tagged: Monopolies

Rahul Gandhi accuses Modi govt of creating monopolies

Rahul Gandhi accuses Modi govt of creating monopolies

Published by Webster

Congress leader Rahul Gandhi on Wednesday accused the Modi government of creating a “monopoly or duopoly” in every sector and called for putting the reins of India`s economy back into the hands of MSMEs. Gandhi said that during the Winter Session of Parliament, he met a delegation of small and medium ice cream manufacturers, and by listening to their problems, it became clear that the government is determined to destroy small businesses for the benefit of its favoured industrialists. “Monopoly or duopoly is a curse for India and the Modi government has been doing exactly this in every sector, every industry,” the Leader of Opposition in the Lok Sabha said in a post in Hindi on his WhatsApp channel. “During the Jan Sansad (People`s Parliament), I met with a delegation of small and medium-sized ice cream manufacturers. Talking to them and listening to their problems made it clear that the government is determined to destroy small businesses for the benefit of its favoured industrialists,” Gandhi said. The customers of these small ice cream manufacturers are …

SC says Flipkart known for creating monopolies, appoints amicus for probe into unfair practices

SC says Flipkart known for creating monopolies, appoints amicus for probe into unfair practices

Published by Parlour News

The Supreme Court on Tuesday said e-commerce major Flipkart was known for creating monopolies and expressed concern over the fate of smaller players in the market. The counsel for Flipkart said that due to the platform, many small vendors were able to take their businesses to the national level.(REUTERS/ Representative) A bench of Justices Surya Kant and N Kotiswar Singh appointed an amicus curiae to assist it in the adjudication of the dispute arising out of an National Company Law Appellate Tribunal (NCLAT) order asking the fair trade regulator Competition Commission of India (CCI) to initiate probe against Flipkart for an alleged use of its dominant position. A bench of Justices Surya Kant and N Kotiswar Singh was surprised that the complainant, All India Online Vendors Association (AIOVA), which alleged unfair trade practices by Flipkart, was nowhere to be found as its lawyers had no instructions from the body. Advocate Udayaditya Banerjee, appearing for AIOVA, said it was possible that the organisation was disbanded or no longer existed. The bench told Flipkart’s counsel that it …

Top Court Says Flipkart Known For ‘Creating Monopolies’

Top Court Says Flipkart Known For ‘Creating Monopolies’

Published by Webster

New Delhi: The Supreme Court on Tuesday said e-commerce major Flipkart was known for creating monopolies and expressed concern over the fate of smaller players in the market. A bench of Justices Surya Kant and N Kotiswar Singh appointed an amicus curiae to assist it in the adjudication of the dispute arising out of an National Company Law Appellate Tribunal (NCLAT) order asking the fair trade regulator Competition Commission of India (CCI) to initiate probe against Flipkart for an alleged use of its dominant position. A bench of Justices Surya Kant and N Kotiswar Singh was surprised that the complainant All India Online Vendors Association (AIOVA) which alleged unfair trade practices by Flipkart was nowhere to be found as its lawyers had no instructions from the body. Advocate Udayaditya Banerjee, appearing for AIOVA, said it was possible that the organisation was disbanded or no longer existed. The bench told Flipakart’s counsel that it would like to examine the issue of creating a monopoly. “We want big players to come and invest here but at the …

Monopolies, scalpers, and the future of online ticket sales

Monopolies, scalpers, and the future of online ticket sales

Published by Webster

Two years after a Taylor Swift ticketing debacle riled up fans and policymakers across the country, Ticketmaster is still fighting a multipronged battle against efforts to break it up and change the rules of the industry in ways resellers are vying for — in what’s become a multimillion-dollar and nationwide struggle over the future of online ticketing. Live Nation Entertainment — a live events behemoth that operates Ticketmaster, owns hundreds of event venues, and manages and promotes major artists through numerous subsidiaries — has long been accused of running a monopoly. But it caught renewed attention from legislators and policymakers in late 2022, when its Ticketmaster platform crashed amid “unprecedented demand” for Swift’s Eras Tour. The disaster sparked widespread public anger around a simple question: why does buying tickets to an event these days feel so bad? To many, the obvious answer is Ticketmaster’s lack of competition. The New York Times reported that the DOJ had already started investigating Live Nation for potential antitrust violations, culminating in a May 2024 antitrust lawsuit filed by the …

Stop abuse of patent monopolies in rare diseases, say patient representatives and treatment activists 

Stop abuse of patent monopolies in rare diseases, say patient representatives and treatment activists 

Published by Parlour News

Health groups argue that Roche’s legal action to block generic supply jeopardises public interest by limiting access to affordable medication. File image for representation. | Photo Credit: Reuters Roche, a Swiss multinational healthcare company, is seeking a permanent injunction against Natco Pharma to prevent the introduction of a generic version of Risdiplam, a Spinal Muscular Atrophy (SMA) drug, citing patent infringement. Health groups on Tuesday (November 5, 2024) argued that Roche’s legal action to block generic supply jeopardises public interest by limiting access to affordable medication. Roche’s patent for Risdiplam is effective until 2035, allowing them to charge approximately ₹6 lakh per bottle, while production costs suggest the drug could be made available for as low as ₹3,024 annually. Patient representatives and treatment activists have come together stating that government, courts, and lawmakers need to take urgent action to address the abuse of patent monopolies in rare diseases. They also noted that the monopoly on the drug could hinder the Indian Ministry of Health and Family Welfare’s efforts to benefit from domestic production and competitive pricing …

APAC Concerns Grow Over Foreign AI Monopolies, Competition

APAC Concerns Grow Over Foreign AI Monopolies, Competition

Published by Webster

Regulators in Japan and South Korea have commenced inquiries into the competitive implications of expanding generative AI markets in their jurisdictions. This follows concerns the fast-moving market may quickly be dominated by too few players, or that emerging anti-competitive practices may develop. In October, the Japan Fair Trade Commission began a market study on generative AI to examine competition at the infrastructure, model, and application levels. As outlined in a discussion paper, it will also decide if changes may need to be made to its Antimonopoly Act and competition policy. SEE: US, UK and EU make joint statement on fostering AI competition The Korea Fair Trade Commission, meanwhile, launched its own AI market study in August of 50 domestic and international players in AI. The KFTC said it will analyse business relations and competition trends, and preemptively identify issues that may undermine competition and hurt consumers. Japan looking at AI competition across all layers of technology Japan’s competition regulator is expecting the local generative AI sector to experience a 47.2% average annual growth rate between …