Lawyers and policymakers believe Trump’s stance could also have spillover effects in India, where tech regulations that largely mirror the European Union’s restrictive rules for big tech companies could become less stringent, making It’s easier for American tech giants to operate.
Tech industry veterans Mint spoke to agree that support for Trump’s presidential campaign from tech giants like Tesla’s Elon Musk and Meta’s Mark Zuckerberg is a sign of what the future holds for big tech companies. Seeking bargains in exchange for less drastic calls for strict antitrust.
“Not only have big tech companies under Biden endured a difficult four years as they come under scrutiny on their turf, they also feel partially betrayed and face ongoing firings from EU regulators. On privacy, market dominance and competition. By siding with Trump, they reversed most of the positions they had taken during his tumultuous previous tenure, reflecting their hope for a more favorable regulatory and policy approach from the incoming administration. . The technology company’s global policy advisor spoke to Mint on condition of anonymity.
Rahul Rai, partner and co-founder of the law firm Axiom5, agrees: “Historically, as administrations change, so do the FTC chairs, and the intensity of antitrust enforcement often correlates with the political economy of the administration. The FTC’s aggressive stance on technology and competition law met with significant pushback under the previous administration, and we may see that as Trump adopts a more market-friendly, less interventionist approach. The U.S.’s legal stance on the technology industry is shifting.
Global impact: India’s tech regulations, U.S. influence
Stakeholders believe this, in turn, may be reflected in India. Mathew Chacko, founding partner at law firm Spice Route Legal, said: “From a global perspective, don’t over-regulate technology and technology companies in strategic areas, that is, don’t over-regulate technology in specific areas. Restrictive policies may come under greater pressure. Alternatively, the US government may push for ‘globalisation’ of the technology sector – an approach that could benefit both India and the US.
Chacko added that the incoming Trump administration may put pressure on countries to relax regulations enacted in their own national security interests.
“It’s not a bad demand — while there are regulatory and security issues, there’s good reason to think that India can gain greater traction by building closer ties with the (U.S.) West Coast, where several big tech companies are headquartered. More profit,” he said.
India’s wait-and-see attitude
Currently, India’s regulatory stance on technology is slowly taking a step forward as it awaits a simultaneous holistic approach from major jurisdictions. A senior official familiar with the government’s policy approach said that while India is “not slow to move forward, we are definitely not in a rush to impose restrictions on big tech companies – there are a lot of benefits for both sides.”
Supratim Chakraborty, partner at law firm Khaitan & Co, agreed, saying: “Most policymakers are taking a wait-and-see approach to see how things fare in other jurisdictions before setting specific regulatory directions. A slow pace. It may continue.
Policy advisers said this wait-and-see attitude may be to see Trump’s technology policy take shape before firming up his position. Kazim Rizvi, founding director of the policy think tank Dui Hua, said, “Although Trump may adopt a pro-business attitude, he also strongly stated that companies must move their supply chains to the United States and may accelerate the export of hardware and software. control” and artificial intelligence for national security purposes. Some of these initiatives may have an impact on India’s access to U.S. technology, but all are unlikely to have an imminent impact on India’s technology regulations.
This could further complicate policymaking in India. So far, India’s technical regulations, including the announced Digital Personal Data Protection Act, 2023 and the upcoming Digital Competition Bill, have been modeled on the EU’s regulatory stance.
“India’s tech laws are closely aligned with EU regulations, and over the past decade India’s enforcement of these laws has more closely mirrored EU practices than U.S. practices. The key difference, however, is that the U.S. has traditionally believed that as long as competition A company is considered innocent if it benefits consumers. In contrast, both India and the EU emphasize a more balanced approach to ensure that neither consumers nor businesses are harmed by anti-competitive practices,” Rai said. .
As a result, Rai stressed that India’s stance on tech regulation may not completely change – although Indian policymakers may take a softer approach and a slower pace to understand how to best leverage the bilateral relationship.
