Digital India was not only a slogan; it was the reality in 2015. It set off a revolution that is still taking shape. One clear instance of that is the rise of Over-The-Top (OTT) streaming.
And as per ORMAX in its latest report, India’s OTT user base now stands at 54.73 crore — seeing a 13.8% increase from last year and growing by 55% since 2021. Suddenly, we have massive regional hits and indie films vying with global blockbusters for our attention. That kind of growth makes you wonder: what happens when regulation catches up?
Regulating the Boom
Keeping things in check involves more than poking around in legal drafts. The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, set content-classification benchmarks. Platforms are supposed to appoint grievance officers and categorize shows by age buckets. And that three-tier grievance redressal system? I’m enamored — on one hand, it’s necessary for consumer trust; on the other, I sometimes feel it’s a form of creeping censorship.
But media isn’t the only realm under the microscope. Payments have gone from brick-and-mortar bank lines to UPI taps. Guess what: UPI processed a staggering 13.89 billion transactions in June 2024, according to NPCI’s dashboard. That’s not just numbers—it’s livelihoods, rickshaw fares, school fees, all handled digitally. Regulation here has been nimble: onboarding, transaction limits, two-factor authentication, you name it. Without these guardrails, the whole ecosystem could falter.
Bold moves by the Reserve Bank of India have also fueled growth in regulated digital lending. NBFC-P2P platforms now face tighter disclosure norms and interest-rate caps. Sure, some say it stifles fintech innovation. But when you’ve seen a cousin get hoodwinked by a rogue app, a bit of oversight seems, well, welcome?
Emerging Regulated Markets
With an eye on consumer safety, authorities have dipped toes into online gaming. Suddenly, popular online casino formats like live dealer roulette and digital teen patti aren’t just playground games—they’re under a microscope. Licensing norms, player-protection measures, gaming time alerts: these are non-negotiable if real money is at stake. The law is still catching its breath, but the intent is clear: let the games continue, without letting things run wild.
Venture beyond entertainment and payments, and you’ll spot digital land records portals, e-governance tools, even regulated telemedicine apps. Each carries its own rulebook, which admittedly can feel like alphabet soup—IT Act., TRAI guidelines, RBI circulars. But at least we’re moving toward clarity, instead of the Wild West of a few years back.
Now, I’m not saying it’s perfect. We still face spotty connectivity in tribal belts, and some regulations—if done clumsily—could smother creativity. Yet, the general trend is unmistakable: India’s digital platforms are growing up. Stakeholders—from startups to regulators—are learning to dance together.
And yes, sometimes you’ll step on toes, but you’ll also create new rhythms.
So, what’s next?
I believe we’ll see more convergence: payments woven into media apps, gaming platforms integrating e-commerce, land records blending with financial services. It won’t all be rainbows—hiccups and hiccoughs are par for the course. But if Digital India’s last decade taught us anything, it’s that a little regulation can go a long way toward building trust, sparking innovation, and getting everyone on board this digital train.
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