Business
Indian app industry cheers South Korea move to rein in Apple and Google
The South Korean Parliament on Tuesday passed a Bill that is expected to rein in the control that Apple and Google have over payment systems in their app stores. The legislation is now awaiting the signature of the President of South Korea, Moon Jae-in.
This Bill is the first major legislation in the world to specifically target in-app markets and payment systems, even as market giants Apple and Google are facing global criticism for mandating the in-app use of their proprietary payment systems, and charging commissions of up to 30 per cent on the sale of apps and subscriptions through the app stores. Developers across the world have questioned these moves, and have demanded freedom to choose alternative methods of payment and distribution, such as via third-party app stores installed on the iOS or Android operating systems.
On Tuesday, South Korean legislators voted to approve amendments to their Telecommunications Business Act, with the intent of promoting fair competition in the app market industry. The bill prohibits app market business operators from taking advantage of their dominant status to force developers to use a specific payment system. It also prohibits app store service providers from engaging in activities such as preventing apps from registering on their stores, inappropriately delaying app registration and unfairly deleting apps from the app market. The move would also enable app developers to avoid the hefty commissions, and thus reduce costs both for developers and end-consumers.
In addition, the bill also empowers South Korea’s Minister of Science/ICT and the Korea Communications Commission to conduct an inquiry into the operations of the app market, to help the government more actively identify app-market related disputes and prevent acts that hinder fair competition and consumer interests.
This move comes as regulators worldwide have turned their attention to app stores and the fees they are charging developers. In the US, three senators introduced a bipartisan Bill earlier in August to promote fair competition by regulating in-app purchases and forcing dominant players from excluding third-party app stores from their operating systems. In India, the Competition Commission of India (CCI) has been investigating Google for potential abuses of its dominant position in the market to promote its proprietary payment services.
Apple and Google have both publicly opposed attempts to regulate their business practices through legislation.
Meanwhile, several industry players have reacted positively to the developments in South Korea. Rakesh Deshmukh, Co-founder & CEO of Indus App Bazaar, India’s largest third-party app store, shared his support for the move. He said that “policy needs to support innovation. We hope that Google enhances developer choice by allowing the listing of app distribution platforms like Indus App Bazaar on the Play Store. That would help us to formulate a B2C journey. I hope that App Stores like ourselves are allowed a fair play environment on Google Play and Android. Furthermore, in India, we need to look into developer choice for app distribution & payment gateways from a policy perspective.”
Sijo Kuruvilla, Executive Director of the Alliance of Digital India Foundation (ADIF), a startup alliance, welcomed the move by tweeting “Any legislation on the matter anywhere in the world will set a precedent for other nations to adopt and build on. To fair markets.”
Commenting on the developments from the US, the Coalition for App Fairness (CAF), an industry association of apps, reacted positively, terming it a momentous step forward, with Meghan DiMuzio, the Executive Director of CAF saying, “South Korean lawmakers and President Moon Jae-in have made history and are setting an example for the rest of the world. This law will hold app store gatekeepers accountable for their harmful and anti-competitive practices. The Coalition for App Fairness hopes U.S. and European lawmakers follow South Korea’s lead and continue their important work to level the playing field for all app developers and users.”
Match Group, that operates the largest portfolio of dating and social discovery apps such as Tinder and OKCupid, thanked South Korean Legislators in a statement, also saying that the legislation “… marks a monumental step in the fight for a fair app ecosystem…” and “…will put an end to mandatory IAP in South Korea, which will allow innovation, consumer choice, and competition to thrive in this market…” The statement adds, “We look forward to the bill being quickly signed into law and implore legislative bodies around the globe to take similar measures to protect their citizens and businesses from monopolistic gatekeepers that are restricting the Internet.”
Meanwhile, many Indian players have also noted these developments with interest, more so in context of opposition to Google’s “app tax” on in-app purchases and its impacts on local players.
NFN Labs, developers of popular apps like Screeny and Vookmark, who have had their share of run-ins with Google, Twitter, and Apple, have also been welcoming of alternative stores and choices of payment gateways.
Rajesh Padmanabhan, cofounder, NFN Labs in a statement said, “For our IoT product, Vookmark launching on Indus App bazaar has boosted our growth with a new set of engaged users…Additionally, we are exploring the ability to distribute and collect payments through alternative channels for our browser extensions, Android, and iOS packages. An alternative distribution that allows free uploads like Indus App Bazaar & lower commissions will certainly help to redirect funds for R&D and help us grow faster.”
The implications of the move in the Indian market remain to be seen, but Rakesh Deshmukh of Indus App Bazaar feels there is more that can be done with app distribution in India, “It’s about the choice of distribution; we all know that Google Play Store and App Store will continue to exist but we need more competition. We believe that choice is central to competition and hence when developers choose to distribute via our infrastructure, we allow a choice of payment gateway. This choice we believe would allow developers leverage to negotiate a reasonable fee with the two companies and payment gateway providers.”
Mumbai, Nov 7: The Indian benchmark indices opened with notable losses on Friday, amid weak global cues and FII selling.
As of 9.25 am, Sensex was down 532 points, or 0.64 per cent, at 82,778 and Nifty dipped 162 points, or 0.64 per cent, to 25,347.
The broadcap indices outperformed benchmarks in terms of losses, with the Nifty Midcap 100 down 0.89 per cent and the Nifty Smallcap 100 losing 1.26 per cent.
SBI Life Insurance, Trent, Apollo Hospitals, ICICI Bank were among the major gainers in the Nifty Pack, while losers included TCS, Titan Company, Tata Consumer and Shriram Finance.
Nifty Consumer Durables was the biggest sectoral loser, down 1.38 per cent. All the sectoral indices were trading in the red, with IT, auto and realty slipping over 1 per cent.
Analysts said that huge shorting by FIIs are overpowering the DII and investor buying in the market. The success of the FII strategy of sustained selling in India and moving money to cheaper markets has emboldened them to continue the strategy and continue shorting the market, they added.
“Short covering can lead to trend reversal but there are no immediate triggers for that in sight. FII selling has reduced the prices of fairly valued large caps particularly in banking and pharmaceuticals where growth prospects continue to be bright,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
India Inc’s second-quarter FY26 earnings, however, showed a stronger-than-anticipated performance with a 14 percent year-on-year earnings rise by companies in key sectors, especially midcaps.
The US markets ended in the red zone overnight, as Nasdaq dipped 1.9 per cent, the S&P 500 declined 1.12 per cent, and the Dow lost 0.84 per cent.
Asian markets also slipped into losses tracking the selloff in US stocks amid concerns over expensive valuations of artificial intelligence companies.
Most of the Asian markets were trading in red during the morning session. While China’s Shanghai index lost 0.17 per cent, and Shenzhen dipped 0.17 per cent, Japan’s Nikkei lost 2.16 per cent, while Hong Kong’s Hang Seng Index lost 0.98 per cent. South Korea’s Kospi dipped 2.57 per cent.
On the Thursday, foreign institutional investors (FIIs) sold equities worth Rs 3,263 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 5,284 crore.
Mumbai, Nov 6: India’s solar photovoltaic module manufacturing capacity is projected to increase to over 165 GW by March 2027 — up from approximately 109 GW currently, a report said on Thursday.
The strong government support in the form of the approved list of models and manufacturers (ALMM), basic customs duty on imported cells and modules, and the production-linked incentive scheme drove the growth, the report from ratings agency ICRA said.
The report forecasts annual solar capacity installations at 45–50 gigawatt direct current (GWdc), while annual module production is expected to reach 60–65 GW, and this discrepancy may lead to a supply surplus, potentially prompting consolidation among smaller and pure-play module players.
The ALMM List-II for cells, effective June 2026, has encouraged OEMs to increase cell manufacturing to approximately 100 GW by December 2027, up from the current 17.9 GW listed under ALMM, the report noted.
Further, the recent imposition of US tariffs have redirected the supply from the export market to the domestic market, it noted.
However, the report anticipated that the vertically integrated manufacturers will benefit over the long term due to greater control over the supply chain.
Ankit Jain, Vice President and Co-Group Head-Corporate Ratings, ICRA, said that operating profitability for domestic solar OEMs at 25 per cent in FY25 is likely to moderate due to competitive pressures and overcapacity build-up.
As the ALMM requirement for solar cells is effective from June 2026, a significant scale-up in the cell manufacturing capacity along with its stabilisation in a timely manner remains critical in the near term, he added.
Dependence on China for wafers, ingots poses significant risks for the industry’s transition, given China’s dominance in global supply and the potential geopolitical restrictions for backward integration, the report noted.
New Delhi, Nov 6: The Ministry of Information and Broadcasting has announced the opening of bookings for WaveX booths, the exclusive startup showcase zone in Waves Bazaar at the International Film Festival of India (IFFI), Goa 2025, according to an official statement issued on Thursday.
The initiative aims to provide a platform for emerging startups in the AVGC-XR (Animation, Visual Effects, Gaming, Comics, and Extended Reality) and entertainment sectors to connect with global industry leaders, investors, and production studios.
Scheduled from November 20-24 2025, ‘WAVES Bazar’ will be located in the vicinity of Film Bazaar, the prime networking hub of IFFI known for its dynamic participation from filmmakers, producers, and media professionals from across the world.
Each booth will be available at a nominal cost of Rs. 30,000 per stall on sharing basis. The facilities being provided to participating startups include two delegate passes, lunch and high tea, evening networking opportunity and direct visibility among global film, media and tech professionals, the statement said.
“Interested startups can register at wavex.wavesbazaar.com. Limited stalls are available, and allocation will be on a first-come, first-served basis,” the statement added.
WaveX is a national startup accelerator and incubation initiative of the Ministry of Information and Broadcasting dedicated to nurturing innovation and entrepreneurship in the AVGC-XR and media-tech ecosystem.
Through collaborations with leading academic, industry, and incubation networks, WaveX empowers creators and startups to scale their ventures, contributing to India’s growing creative economy.
The International Film Festival of India (IFFI), founded in 1952, is one of Asia’s most significant film festivals, celebrating excellence in world cinema and serving as a meeting ground for filmmakers, artists, and cine enthusiasts. Held annually in Goa, IFFI attracts participation from across the global film fraternity and acts as a catalyst for creative collaboration and opportunities.
The 56th edition of the International Film Festival of India (IFFI) is set to take place from 20th to 28th November 2025 in Panaji, Goa, the statement added.
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