Reported 10 months ago
India is considering a new antitrust law similar to the EU, which could impact tech giants like Apple, Google, and Meta. The proposed 'Digital Competition Bill' targets major digital companies with strict compliance obligations, including those with a domestic turnover of over $480 million or global turnover exceeding $30 billion. The law aims to address concerns about market concentration, unfair practices, and the need to empower smaller firms. Companies would face penalties for violations, forbidden from exploiting user data and favoring their products. Major tech firms in India like Amazon, Flipkart, Google, and Apple are already under scrutiny for various antitrust issues and practices. The law proposal is currently under review by India's Ministry of Corporate Affairs.
Source: YAHOO