New Delhi: ‘Paytm Is Indian’ was trending on Twitter on Tuesday, after the app was being attacked over funding from Chinese language firms.
After the Indian authorities banned 59 Chinese language apps, Indian companies with Chinese language investments had been introduced beneath the scanner. One of many distinguished apps being attacked is Paytm.
Based on stories, its shareholders embody Ant Financials, SoftBank Imaginative and prescient Fund, SAIF Companions, Vijay Shekhar Sharma, AGH, Berkshire Hathway and others.
The most important shareholder Ant Financials, which was previously Alipay, is an affiliate firm of the Chinese language Alibaba Group. Paytm is being attacked over the identical.
I welcome the federal government’s daring transfer to ban some #ChineseAppsBanned ,Now Narendra ought to present his 56” chest and ban #Paytm, which has huge Chinese language investments. Time to place your cash the place your mouth is! #GoVocalForLocal pic.twitter.com/SwWTcCg6tH
— Manickam Tagore MP????????✋மாணிக்கம் தாகூர் (@manickamtagore) June 29, 2020
Many individuals took to Twitter for defending the app citing the founder being Vijay Shekhar Sharma who’s the president and CEO with Ajay Shekhar Sharma being Vp.
Amongst these defending is Enterprise capitalist Anand Lunia who wrote a collection of tweets to speak about firms being trolled for having funds from Chinese language traders. He elaborated on how the businesses being attacked are Indian as they’re answerable to the nation’s regulation even when they’ve Chinese language funding.
Paytm, Zomato, and so on are all Indian cos.
They need to observe Indian legal guidelines by being current right here as a authorized entity.
— Anand Lunia (@anandlunia) June 30, 2020
Different apps being targetted embody Swiggy, Zomato, Flipkart, Ola and ShareChat.
Earlier, Vijay Shekhar Sharma had lauded the federal government’s transfer to ban Chinese language apps by calling it a “daring step within the nationwide curiosity. A step in the direction of Atmanirbhar App ecosystem”.