PM (Narendra) Modi’s agenda to digitalize the economy, boost renewable energy use, and implement business reforms are enabling these valuable connections.” In January ‘20, a delegation led by Bay Area Council visited India to identify new opportunities for trade and investment. In his foreword, Harsh Vardhan Shringla, the former Indian Ambassador to the US writes, “The Bay Area has been seeking to strengthen economic relations with India. The current report is prepared by Sean Randolph, Senior Director of Bay Area Council after deliberations with senior leaders from Silicon Valley and India. The first report published in 2009 focused on the deep ties between the two economies, the second in 2019 examined Bay Area’s contribution towards innovation, economy, and investments in India. Titled, “Seismic Shift – Economic Growth and Strategic Alignment Between the Bay Area and India,” it’s the third report about India published by the Institute. Read: South Asian crisis: India on a cliffhanger(August 4, 2022) Key thematic areas include defense, critical and emerging technologies (enabled by iCET), standards, state-level collaboration on climate and energy, cross-national support for startups, AI and digital development, skilled immigration, trade, and supply chain integration, it says. Synergies between the Bay Area and India’s robust innovation ecosystem suggest a wide range of opportunities for collaboration between the two, according to a new report published by Bay Area Council Economic Institute. The bloc issued formal charges against the tech giant last year alleging it unfairly restricted competition in the mobile wallets market on its devices.‘US-India partnership can create a more prosperous and innovative future for their citizens and the world’ On Wednesday, the European Union’s powerful antitrust watchdog signaled it is taking a closer look at Apple’s mobile payment system and said it is gathering more information on the company’s use of a payments chip. For Apple, which reported annual revenue of $394.3 billion for its 2022 financial year, a 10% fine would be nearly $40 billion.

This is an upper limit, however, and fines are unlikely to climb that high. Penalties for antitrust violations in Europe can be severe and those found to have breached the European Union’s rules against abusing a dominant market position face a fine up to 10% of its annual turnover from the year before the decision. Additionally, any decision can be contested at multiple levels, further lengthening the time span. Investigations of this nature can take a long time to complete, potentially many years. Apple is often targeted over its prominent position as gatekeeper for what can be used and installed on its popular range of mobile devices, computers and other tech using its iOS operating system, which gives it a dominant position in the market and has been the subject of numerous investigations before. All big tech players, including Meta, Amazon and Alphabet, have been scrutinized. The regulators have proven influential in shaping approaches to the industry globally, particularly when it comes to people’s data, with both competition and privacy watchdogs jockeying to take on cases. European regulators have been especially active in this space and the bloc has some of the toughest rules in the world.

In recent years, regulators around the world have stepped up efforts to curb the powers of big tech.

Apple told Forbes its tracking transparency rules have received strong support from regulators and “apply equally to all developers,” itself included, adding that it will continue to work with the AGCM to address any of its questions.

Apple crosses billion active users