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TikTok ban in India: ByteDance could lose ₹45k crore

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The decsion by Indian government to ban 59 Chinese apps is making headlines not only in India and world but is also covered extensively by Chinese media.

According to a report published by China’s state-run media The Global Times, ByteDance – the parent company of the TikTok and Helo apps could lose up to $6 billion( 45k crore) after the Indian government decison to ban them.

The report further said that according to data from Sensor Twoer, a mobile app analysis company, TikTok was downloaded 112 million times in May and people who downloaded the app in India constitued a very high number and even double of that downloaded in USA.

The Indian government on Monday banned 59 apps with China links including TikTok, SHAREit, UC Browser, Baidu map, Helo, Mi Community, Club Factory, WeChat and UC News in view of the information available that they were engaged in activities “which is prejudicial to sovereignty and integrity of India, defence of India, the security of the state and public order”.

Global Times said the move has dealt a severe blow to the confidence of Chinese investors and traders.

“What the Indian government and people have done has dealt a severe blow to the confidence of Chinese investors and traders and the Indian economy could remain subdued for a protracted time under the devastating shocks from the coronavirus outbreak,” it said.

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