https://techcrunch.com/2024/01/03/india-tech-regulation/

In 2023, India introduced a series of regulations and tweaked policies that borrowed from Europe’s antitrust approach and Chinese-style government surveillance, alarming executives and investors in the world’s most populous market. Additional regulations are on the horizon in 2024 as New Delhi continues a regulatory shift to more tightly govern the tech sector.

Last year, the Goods and Services Tax (GST) Council began levying a 28% tax on online gaming, casinos and horse racing, severely hitting India’s once fast-growing fantasy sports startups. Leading investors — including Peak XV, Tiger Global and Steadview Capital — warned Prime Minister Narendra Modi the measure would eliminate $2.5 billion in market value and 1 million jobs.