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China FDI constraints may put tech startups in a spot

China India covid-19 guidelines Government
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BigBasket, Paytm, Ola and other tech startups may become collateral damage of the government’s move to protect local companies from hostile takeovers by Chinese firms taking advantage of depressed valuations during covid-19.

Online grocery retailer BigBasket, digital payments platform Paytm and ride sharing platform Ola have so far received billions of dollars in investments from Chinese companies.

These companies will be affected the most with the new foreign direct investment (FDI) norms announced on Saturday banning fresh investments from India’s neighbours, including China, through the automatic route.

The step makes it mandatory for all Chinese direct and indirect investors to seek government approval before investing in Indian

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COVID-19
United States
United States
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Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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