TECH - Apple Amazon Google Up In Arms Against India's Proposed Anti-Competition Bill: Report | Benzinga
This story was first published on the Benzinga India portal.
A U.S. lobby group, representing tech giants such as Google (NASDAQ: GOOG) (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL), has appealed to India to reconsider its proposed competition law, similar to that of the European Union (EU), warning that it could drive up user costs.
What Happened: The US-India Business Council (USIBC), a part of the U.S. Chamber of Commerce, voiced its concerns in a letter to India’s Corporate Affairs Ministry, Reuters reported.
India’s proposed "Digital Competition Bill” is similar to the EU’s Digital Markets Act 2022 and aims to regulate large firms with a global turnover exceeding $30 billion (?2.5 lakh crore) and ...