Indian tech leaders want govt to protect interests of local companies against China
The government’s decision to ban 59 Chinese apps has been described as a major policy shift
The country’s tech industry leaders want India to take more stringent action against China to protect the interest of local companies. They want regulators to curb their access to Indian markets, establish rules to wrest back control of user data and bank roll local startups.
Earlier this month, the Narendra Modi government banned 59 Chinese apps, including the popular TikTok. Industry experts described this as a dramatic policy shift aimed at improving local control and data security.
Yashish Dahiya, Policybazaar co-founder, told Bloomberg News last week that China has long been ‘the bratty kid’ who thinks its OK to grab other’s cake without sharing their own. He said India must strategically reduce market access before its neighbour becomes even more powerful. “If India doesn’t do it now, it can never be done,” a NDTV report quoted him as saying.
Dahiya and Bipin Preet Singh, MobiKwik frontman, are breaking tradition in Indian startup sector which over the past half-decade has attracted billions from Chinese companies and investment houses from Alibaba Group Holding Ltd. To Hillhouse Capital.
“It's not an easy position to take,” said Dahiya. “A sovereign nation has no parent but someone’s got to stop China from misbehaving.” Singh said the government should identify strategic sectors and nurture local startups. “The China versus US battleground is neither China nor the US, but India.”