The new rules known as the Digital Services Act, which will apply from February 2024, require online platforms to do more to police the internet for illegal content or risk fines as much as 6% of their annual global turnover.
If the transaction goes through, it will be the biggest consolidation in the new-age lending sector, which has of late faced major regulatory roadblocks in India. In September, the Reserve Bank of India introduced a set of rules for online lenders.
The authorities had sought Amazon’s response after Pune-based employee union Nascent Information Technology Employees Senate (NITES) petitioned union labour minister Bhupender Yadav, claiming that the online retailer had forcibly terminated a large number of employees in India.
A lawsuit challenging the deal is not guaranteed, and the FTC's four commissioners have yet to vote out a complaint or meet with lawyers for the companies, the report said, adding that the FTC staff reviewing the deal are skeptical of the companies' arguments.
The verdicts may hurt developers in the country as it means they may have to develop apps with different specifications for different app stores.
Amazon will release a smaller number of films in theaters next year and increase its output over time. That number of releases puts it on on a par with major studios such as Paramount Pictures.
Ushering in an era of open-source network for digital commerce, ONDC chief Thampy Koshy lays out the blueprint for revolutionising the Indian ecommerce landscape, one where buyers and sellers enjoy equal opportunity. At ET India Rising, powered by Visa, Koshy maps out the road ahead for India’s ONDC and the opportunities it presents for ecosystem players and startups to innovate and grow.
