Tue. Nov 29th, 2022

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Subsidiaries of Indian firms in China get caught in crossfire

2 min read
Indo china tension

Indian technology companies with a presence in China are anxious about the fallout of India’s economic retaliation against China amid rising tension between the two nations.

Experts said that Indian software services providers that service global companies in China may risk losing those projects, which will impact their investments in Asia’s largest economy.

India is witnessing a strong anti-China sentiment with the government on Monday announcing a temporary ban on 59 Chinese apps.

Actions by the Indian authorities could lead to retaliatory measures by China, Indian companies fear.

The companies have been eyeing the Chinese market as part of their strategy to cut dependence on the US and UK, which together make up more than 70% of Indian IT exports.

The current hostile environment is expected to affect their plans, experts said.

Last year, information technology industry body Nasscom launched the third phase of the Sino-Indian Digital Collaboration Plaza, an initiative to bring Indian IT companies and Chinese enterprises on a single platform.

According to Nasscom estimates from 2019, Chinese IT services spending was more than $35 billion, of which India’s share was around $500 million. Now, websites for all three phases are inaccessible.

According to data from the Shanghai Indian Consulate, Shanghai gets the maximum Indian investments, including from companies such as Tata Consultancy Services Ltd, Infosys Ltd and NIIT Technologies Ltd.

Regions of Zhejiang and Jiangsu house manufacturing units of Mahindra and Mahindra, Tata Jaguar Land Rover, Sundram Fasteners and Dr Reddy’s Laboratories, among others.

 

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