# Regulatory Risk

The Global Turnover Trap: India’s $38 Billion Apple Fine Signals a New Era of Regulatory Protectionism

India has proposed a landmark $38 billion fine against Apple by applying new rules that calculate antitrust penalties based on a company's global turnover. This aggressive regulatory shift, which also recently targeted Hyundai, underscores the rising risks for multinational corporations operating in a market increasingly defined by protectionist policies and geopolitical maneuvering.