Technology and Internet
Chinese app ban to create funding hurdle for Indian unicorns and soonicorns
01 Jul 2020
The Chinese app-ban is expected to further create hurdles for Chinese investments in Indian unicorns, soonicorns and other firms as Sino-India tension escalates. With 59 Chinese apps banned by India, including Bytedance's TikTok, Alibaba's UC Browser and Tencent's WeChat, as the government cited security concerns, the country is expected to increase the level of scrutiny of investments coming from China — both directly and indirectly.
“There will be a wait and watch for Indian companies seeking capital and Chinese strategics will want to wait as well,” said Madhur Singhal, managing director at management consulting firm Praxis Global Alliance.
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