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

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 decision to ban them.

The loss of Chinese internet company ByteDance – mother company of Tik Tok — could be as high as $6 billion after Indian government banned 59 Chinese apps including Tik Tok, following deadly border clash between Indian and Chinese troops last month: source pic.twitter.com/wGvnqVO7mR

— Global Times (@globaltimesnews) July 1, 2020

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.

Law, Electronics and Information Technology Minister, Ravi Shankar Prasad said that government has banned apps for safety, security, defence, sovereignty and integrity of India.

"For safety, security, defence, sovereignty & integrity of India and to protect data & privacy of people of India the Government has banned 59 mobile apps. Jai Hind!," he said in a tweet.