Ecommerce customs duty key to end big tech’s monopoly, rent-seeking behaviour: India

Goyal said that it is a custom duty and should many members feel that they don’t want to impose that on electronic transmission products, they are free to do so. India on Wednesday said that a G20 and OECD like pact on levying customs duties on e-transmissions should be considered to end the monopolistic, rent-seeking and anti-competitive practices of big tech companies, and allow developing countries to share a small portion of the super profits and huge benefits they enjoy.

New Delhi also sought a review and relook at the moratorium on e-commerce transmissions that has continued for 24 years as developed countries have blocked proposals by India, South and other poor nations to impose the customs duties on e-transmissions.

Making a case for levying these duties, commerce and industry minister Piyush Goyal said that this would create a level playing field for domestic companies when compared to global tech giants whose monopolistic and anti-competitive practices are already under the scanner in many many large countries.

World Trade Organization (WTO) members can’t impose customs duties on electronic transmissions since a temporary moratorium was put in place in 1998- something that India, South Africa and other developing countries have opposed.

At a thematic session at MC12, he said that five big tech giant companies control the market, make super profits, have high market capitalisation, and don’t allow new entrants in this space due to their financial clout and influence.

He said some of these firms come from “non-transparent economies” and are able to get large penetration into other markets into the developing world without any cost to them, neither do they pay income tax which hopefully will now become a global minimum tax after the efforts made at the G20 and the OECD.

The minister suggested that a similar effort be made on the custom duty […]

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