Exploring the Risks Posed by Apple and Google's Market Dominance to Indian Startups and Governance: Digital India Summit

Murugaval Janakiraman, CEO of Bharat Matrimony, expressed concerns about the dominance of major tech players like Apple and Google within the digital landscape, particularly highlighting their efforts to penetrate India's payments system. Speaking at the Digital India Summit on February 27, 2024, Janakiraman emphasized the potential ramifications for Indian startups and government entities. He underscored the significant influence these companies wield over the internet ecosystem, asserting that their control extends beyond mobile applications to encompass critical aspects like distribution and marketing. Janakiraman cautioned against the monopolization of the payments ecosystem by these tech giants, stressing the need for openness and fair competition. He cited instances in Europe where Apple modified its policies to maintain market dominance, highlighting the potential implications for Indian companies. Moreover, Janakiraman raised concerns about the financial burden imposed on startups by Apple and Google, who demand a significant portion of revenue in exchange for their services. He called for a united stance against the dominance of big tech, urging startups to advocate for fair practices and resist undue pressure. Additionally, Janakiraman emphasized the importance of trust and discoverability for new app stores, noting the challenges faced by companies entering the Indian market. He emphasized the necessity of both online and offline presence for Indian consumers, underscoring the higher operational costs incurred by startups due to the demands of major tech platforms. Janakiraman urged the Indian government to address the monopolistic practices of Apple and Google seriously, highlighting instances where these companies circumvent regulations. Moderator Deepit Purkayastha added to the discussion by noting Google's control over the notification stack in the US, emphasizing its significance as a critical component for app-oriented companies.