financetom
Economy
financetom
/
Economy
/
After Chinese app ban, MEA says India welcomes investments if companies abide by rules
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
After Chinese app ban, MEA says India welcomes investments if companies abide by rules
Jul 2, 2020 9:55 AM

In the aftermath of the union government’s interim ban on 59 Chinese apps, the Ministry of External Affairs on Thursday said that India is one of the open regimes for attracting foreign direct investment (FDI) provided companies abide by the government rules.

The MEA added that India has adopted an open regime for digital technology and internet. India is one of the world’s largest digital tech markets with over 680 million subscribers, it added.

The MEA said that companies operating in India have to follow rules regarding data security. In its Monday order banning the Chinese apps, the government said that the censure was “in view of information available they are engaged in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order.”

India welcomes investments in internet technology, but companies must abide by government rules, the MEA said on Thursday.

Following the ban announced on Monday, the Apple App Store and the Google Play Store on Thursday took down the 59 apps in question.

China has alleged discrimination on India’s part for censuring apps originating from its jurisdiction.

In the political circles the app ban has been seen as India’s retaliation to Chinese incursions inside its borders in Ladakh. In a particularly violent clash mid-June, 20 Indian soldiers died after clashing with their Chinese counterparts.

Some major Indian lawyers have declined to take up the case of Chinese apps in their court fight against the Indian government’s ban.

First Published:Jul 2, 2020 6:55 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Daily Roundup of Key US Economic Data for June 16
Daily Roundup of Key US Economic Data for June 16
Jun 16, 2026
02:50 PM EDT, 06/16/2026 (MT Newswires) -- Housing starts fell by 15.4% to a 1.177 million annual rate in May, with single-family housing starts and multi-family starts both lower. Building permits fell by 0.7% to a 1.413 million rate in May. Single-family permits were higher while multi-family permits declined. Homes permitted but not started increased by 4.7%. The number of...
As chair, Warsh finally has a chance to put stamp on Fed balance sheet
As chair, Warsh finally has a chance to put stamp on Fed balance sheet
Jun 16, 2026
June 16 (Reuters) - In the run-up to becoming leader of the Federal Reserve, Kevin Warsh flagged as a cornerstone issue his belief that the central bank's bond holdings must be reduced because they are too big and harmful to the U.S. economy. Now that he's in charge, he will get to see if he can win over skeptical colleagues...
Fed's watchdog warns of central bank foreign travel risks, calls for reforms
Fed's watchdog warns of central bank foreign travel risks, calls for reforms
Jun 16, 2026
WASHINGTON, June 16 (Reuters) - The Federal Reserve's internal watchdog is calling on the central bank to strengthen how it protects staff and information during periods of international travel where foreign intelligence agencies might be at work. The Inspector General said as it now stands, the Fed lacks a formal program to prepare employees for international travel and does not...
Annual Rents Drop for 34th Consecutive Month, Realtor.com Says
Annual Rents Drop for 34th Consecutive Month, Realtor.com Says
Jun 16, 2026
03:51 PM EDT, 06/16/2026 (MT Newswires) -- Asking rents in the US fell annually for the 34th successive month in May, a trend that is likely to continue because of a surge in multifamily construction, News Corp's ( NWSA ) Realtor.com said Tuesday. The median asking rent across the 50 largest US metropolitan areas for up to two-bedroom properties dropped...
Copyright 2023-2026 - www.financetom.com All Rights Reserved