Breaking digital competition law may cost up to 10% of global turnover
NEW DELHI : Digital economy enforces violating provisions of an upcoming competition law to govern them may be penalized up to 10% of their global turnover, a top government panel recommended.
The corporate affairs ministry panel led by its secretary Manoj Govil on Tuesday proposed a new set of compliance obligations for influential digital economy firms such as Google, Apple and Meta.
The proposed new requirements to ensure fair play in the digital economy will govern systemically significant digital enterprises (SSDEs), which will be identified on the basis of factors such as their India turnover, global turnover, gross merchandise value,…