NEW DELHI: Google, which is facing antitrust investigation in India by fair trade watchdog CCI, can face a penalty of up to about $5 billion if it is found to have violated competition norms of the country.

Google said it is "extending full cooperation" to the CCI in its investigation. The conclusion of a two-year review by the U.S. antitrust watchdog has concluded that the company's services were good for competition, it added.

The case has been before the Competition Commission of India (CCI) as well for over two years now and it relates to allegations that Google is abusing its dominant position in the internet search engine space.

Under competition regulations, an entity found violating the norms could be slapped with penalty of up to 10 percent of its three-year annual average turnover.

In the case of Google, its annual revenues in the last three years amounts to a staggering $49.3 billion and the maximum penalty can be up to nearly $5 billion.

When asked about the ongoing probe and the potential penalty of up to $5 billion, a Google spokesperson told PTI, "We are extending full co-operation to the Competition Commission of India in their investigation."