The move by the Indian government to ban 59 Chinese applications including the video-sharing application Tik Tok is likely to cause huge financial losses to all the companies.
The most hit among the 59 applications is Tik Tok. The parent company of Tik Tok – ByteDance – is expected to incur a loss of more than 45,000 crores i.e. 6 billion dollars. As per a report from China’s state-run media house Global times, ByteDance can lose up to 45,000 crores after the Indian government decided to ban TikTok, Helo, and other Chinese applications.
However, India was not among the top revenue source for Tik Tok but it was among the nations that had the highest downloads of the applications. In the last few years, ByteDance had invested over 1 billion dollars in the Indian market and the ban by the government has proved to be disastrous for the company. As per a report by Sensor Tower, Tik Tok was downloaded 112 million times in May out of which 20 percent came from India.
59 Apps Banned In India
On Monday, the Indian government banned 59 mobile applications that have its origin in China citing the reason for protecting the data and privacy of the people of India. This comes in the wake of the military face-off between India and China along the eastern Ladakh region.
For safety, security, defense, sovereignty and integrity of India and in order to protect the data of the people of India, the Government of India banned these applications. This has been long requested by the social media users after the Chinese military had a face-off with the Indian military killing 20 Indian soldiers.
The 59 Chinese applications include the hugely popular content creating app Tik Tok, UC browser, Helo, Likee, CamScanner, Vivo Video, Mi Video Call, Clash of Kings along with the e-commerce platforms like Club Factory and Shein. The Information Technology Ministry said that it had received many complaints from various sources and also had received reports of the misuse of some of the applications that would be stealing and surreptitiously transmitting users data in an unauthorized manner to servers that have locations outside India.
Source: Zee News
