JUNE 29, 2020
Welcoming Centre’s move to ban 59 Chinese Apps in the country, Congress leader and Tamil Nadu MP Manickam Tagore has urged Prime Minister Narendra Modi to ban e-commerce mobile application Paytm.
Manickam Tagore tweeted that the PM should now also ban Paytm which has ‘massive Chinese investments’.
Attaching screenshots of a wikipedia page showing that PayTm has 29.71% and 7.18% investment from Chinese firms Ant Financials and Alibaba Group respectively, he tweeted, “I welcome the government’s bold move to ban some #ChineseAppsBanned ,Now Narendra should show his 56″ chest and ban #Paytm, which has massive Chinese investments. Time to put your money where your mouth is! #GoVocalForLocal”
I welcome the government’s bold move to ban some #ChineseAppsBanned ,Now Narendra should show his 56″ chest and ban #Paytm, which has massive Chinese investments. Time to put your money where your mouth is! #GoVocalForLocal pic.twitter.com/SwWTcCg6tH
— Manickam Tagore MP?????????????? ?????? (@manickamtagore) June 29, 2020
Alibaba Group is a Chinese multinational technology company, Ant Financials is an affiliate company of the same group.
Over 2015-19, Chinese investors including Alibaba, Tencent, TR Capital and Hillhouse Capital, have invested over USD 5.5 billion in Indian startups, according to Venture Intelligence that tracks private equity, venture capital, M&A transactions and valuations, in India.
India on Monday banned 59 apps with Chinese links, including hugely popular TikTok and UC Browser, saying they were prejudicial to sovereignty, integrity and security of the country.
The ban, which comes in the backdrop of current stand-off along the Line of Actual control in Ladakh with Chinese troops, also includes WeChat and Bigo Live.
The list of apps that have been banned also include Helo, Likee, Cam Scanner, Vigo Video, Mi Video Call Xiaomi, Clash of Kings as well as e-commerce platforms Club Factory and Shein.
This marks the largest sweep against the Chinese technology companies.
Courtesy/Source: India Today / PTI