business / news / / The Indian Express
“The EU anti-sanctions law is among the options (being looked at) It does offer a template… There is a compelling need to have a mechanism in place,” a senior government official told The Indian Express.
India is considering adopting an EU-style anti-sanctions law to protect domestic companies from foreign sanctions.
KEY POINTS
- The Finance Ministry has proposed requiring Indian companies to use local subsidiaries of global vendors for contracts.
- Microsoft's automatic suspension of services to Nayara Energy was triggered by a legacy compliance system now changed.
- India is debating a policy that may require critical sectors to use only domestically-made sovereign cloud systems.
- Microsoft admitted its system wrongly presumed EU jurisdiction over Indian entities, leading to unintended enforcement.
COMPANIES
Summarized by Newsio from The Indian Express. How we summarize →