Google's Argument In SC Against CCI Order Contradictory: Indus OS CEO
As the Supreme Court later this month hears Google’s petition against a Competition Commission of India’s (CCI) order penalising the US tech giant for allegedly violating competition law, one senior industry executive is backing the regulator.
“Google’s argument however is contradictory as competition breeds innovation which only makes technology more affordable for everyone. Google itself has pointed out that the prices of smartphone devices have dropped drastically over the last 5 years. This has been made possible only due to innovations in the field of mobile hardware,” said Rakesh Deshmukh, co-founder and chief executive officer of Indus OS, a homegrown application and content discovery platform.
CCI, last October, fined Google Rs 1,338 crore and asked it to "cease and desist" from misusing its dominant position in the Android mobile device ecosystem. Google’s plea before the Supreme Court says that the CCI ruling will stall the growth of the Android ecosystem in the country, hurt stakeholders and drive up device price point.
“The CCI ruling against Google very clearly encourages software innovation, which will only help bring down the prices of smartphone devices, thus ensuring even further digital penetration as opposed to stalling the growth of the Android ecosystem by pushing up the device price point," Deshmukh said in a statement.
Indus OS was launched in 2013 as an early player in the Indian Android ecosystem; it was later acquired by PhonePe.
“This democratization in the field of software innovation will fuel further penetration of the Android ecosystem in the Indian market. This will also provide a level playing field for players like Indus OS and MapmyIndia, by ensuring unrestricted distribution within the Android ecosystem,” he said.
“The CCI ruling against Google is a step towards ushering in the next phase of digital revolution in the country. It will allow more players to exist in the currently monopolistic market, leading to more innovation duly keeping the needs of the Indian users in mind, thus giving them the freedom of choice and thereby ensuring higher digital penetration and further decreasing the device prices,” he added.
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more