Striking balance: CCI may tailor penalties for global corporations

The base penalty would be calculated on a company's relevant turnover, which is the turnover related to the product or service infringing on the law in the domestic market

In a likely reprieve for multinational corporations, the Competition Commission of India (CCI) may not impose penalties for anti-competitive practices directly based on their global turnover. It is likely to introduce specific circumstances as part of guidelines under which penalties could escalate to the level of global turnover.
 

“The CCI is trying to strike a balance: India Inc should not suffer but there has to be deterrence. The amendment (the Competition Amendment Act) when it was brought was targeted at Big Tech companies,” said a person in the know.
 

The base penalty, according to people in the know, would be