TikTok Ban will Hit Parent Firm ByteDance’s $1 Billion Expansion Plan
New Delhi, 30th June 2020: A ban on 59 Chinese apps including Tiktok by the Indian government over security issues derailed Chinese company ByteDance $1 billion India expansion plan.
Tiktok app is owned by its parent firm ByteDance was removed from Google and Apple app stores in India after the Indian government announced on Monday that it was among the 59 apps which it believed posed a "threat to sovereignty and integrity".
"If this is not rolled back, these companies would be constrained to cut back their operations in India, potentially resulting in a loss of employment," said a lawyer who advises a Chinese company whose app has been banned.
China's foreign ministry said it was "strongly concerned" about India's decision, adding that India had a "responsibility to uphold the l...