As per reports, the ‘Digital Strike’ by the Indian government has worked. It is reported that a Chinese company will have to face a whopping loss of 6 billion US dollar. This was reported by China’s English language daily ‘ Global Times’.
ByteDance – the parent company of TikTok will have to face a loss of 6 billion US dollar. ByteDance has in recent years invested over $1 billion in the Indian market and the ban imposed on TikTok, Vigo Video and Helo would cause a loss up to $6 billion.
“A source close to ByteDance said that in the past few years, the company had invested more than $1 billion in the Indian market, and the ban could virtually halt ByteDance’s business there, causing a loss as high as $6 billion. That figure would exceed the potential losses of all the other apps combined”, the report quotes Global Times as saying.
The Indian government had banned 59 Chinese apps following an intelligence reports which suggested unlawful data-mining for elements outside India which posed a national security risk.
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