The ban impact: TikTok's parent company may lose USD 6 Billion

TikTok is a short video-sharing platform under ByteDance, and Helo is a social media platform the company released for the Indian market. Another app called Vigo Video, which is also on the list, is also from the company. According to data from Sensor Twoer, a mobile app analysis company, TikTok was downloaded 112 million times in May, with 20 percent of that total in the Indian market, double that of the US market.

The Indian government on Monday said that it has decided to block 59 apps in view of the information available that "they are engaged in activities which are prejudicial to sovereignty and integrity of India, defense of India, the security of the state and public order". Information Technology Minister, Ravi Shankar Prasad said that the government has banned apps for safety, security, defence, sovereignty, and integrity of India.

The development comes in the wake of latest escalation between the ties of India and China following the recent stand-off at Galwan Valley in Eastern Ladakh along the Line of Actual Control (LAC) last month, which also killed 20 Indian personnel, in one of the most bloody confrontations between the border troops of two sides since the 1972 war.

China had expressed concerns over India's decision to ban 59 apps developed by Chinese firms and stressed that New Delhi has a responsibility to uphold the legal rights of international investors including Chinese.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!