Indian Government wants its IT industry dealt like China, the recent report from WSJ has revealed that an official from Indian Finance Ministry has sent notification to the local units of Google and Yahoo to enlighten them about the ongoing investigation against them regarding the potential violation of Indian foreign exchange laws by these companies.
The unnamed official from finance ministry monitors the activities of foreign exchange transactions and money laundering.
Some sources of WSJ have said that Google’s transfer of funds to its Ireland unit and other foreign entities has instigated the investigation. Whereas Yahoo’s certain case is unknown at the moment.
An official from Google India said that his company has not received any notification yet so they are not in a position to comment. On the other hand, Yahoo declined to comment.
Indian Government has already tightened its grip on internet companies as previously Indian court ordered Facebook and Google to remove obscene data from their sites to comply with the local laws.
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