trade

Google has approached the Supreme Court regarding an antitrust case that could significantly impact India's digital economy, particularly concerning its dominance over the Android operating system and the requirement for app developers to use Google's payment systems, which can impose commissions of 15-30%. The Competition Commission of India (CCI) found Google to be a dominant entity, concluding that its practices constituted abuse of power, resulting in a penalty of ₹936 crores. Google appealed this decision, leading to a reduced penalty of ₹217 crores from the National Company Law Appellate Tribunal (NCLAT), which did not classify Google as a "gatekeeper." Google has since filed additional appeals with the Supreme Court, which is set to hear the case in November. A study on Indian farmers revealed that extreme heat, with temperatures exceeding 43°C, significantly impacts their livelihoods, leading to increased food insecurity and undernutrition. While average calorie consumption remained stable, the incidence of "strong undernutrition" rose, affecting approximately 3 million individuals. The study found that extreme heat forces families to seek non-farm employment and adapt their food sources, often leading to a decline in job retention and increased vulnerability due to limited access to credit. The findings suggest that climate change is exacerbating challenges in Indian agriculture, necessitating policy interventions to enhance resilience and support affected households. India's cabinet approved a one-time ₹300 billion payout to state-run fuel retailers to compensate for losses from selling subsidized LPG. Tata Motors reported a 63% year-on-year drop in Q1 consolidated profit, while Nayara faced scrutiny over Russian oil imports. The Supreme Court upheld a ruling classifying telecom towers as movable property, providing tax relief for telecom companies. Tesla India signed a nine-year lease for a showroom in Delhi, marking its expansion into the Indian market.