Global technology giants should reinvest part of their profits for development of infrastructure and job creation in revenue generating countries such as India, the country’s Union Minister of Electronics and IT, Ravi Shankar Prasad, said.
Speaking at the G20 Digital Economy Ministerial meeting in Argentina, the Minister said the largest and most dynamic markets for digital services are in Asia, Latin America, and Africa, with India having one of the largest footprint of several popular social media and other digital platforms.
“It is only fair and just that some of the revenue and profit generated from these platforms be equitably reinvested in the largest markets to create more infrastructure and generate more job opportunities for the people there,” an official release quoted him as saying.
During the meeting, the G20 member nations agreed to promote policies that will contribute to bridging all forms of the digital divide, with special attention to the digital gender divide.
Full Content: The Times of India
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Withdraws Case Against Microsoft-Activision Merger, Citing Public Interest
May 23, 2025 by
CPI
Charter to Acquire Cox Communications in $35 Billion Deal
May 22, 2025 by
CPI
FTC Targets Media Watchdog Over Alleged Collusion Against Musk’s X
May 22, 2025 by
CPI
FTC Drops Antitrust Case Accusing Pepsi of Squeezing Small Retailers
May 22, 2025 by
CPI
Shein Warns of Higher Costs for French Shoppers Amid EU Fee Proposal
May 22, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Industrial Policy
May 21, 2025 by
CPI
Industrial Strategy and the Role of Competition – Taking a Business Lens
May 21, 2025 by
Marcus Bokkerink
Industrial Policy, Antitrust, and Economic Growth: Some Observations
May 21, 2025 by
David S. Evans
Bolder by Design: Crafting Pro-Competitive Industrial Policies For Complex Challenges
May 21, 2025 by
Antonio Capobianco & Beatriz Marques
Competition-Friendly Industrial Policy
May 21, 2025 by
Philippe Aghion, Mathias Dewatripont & Patrick Legros