Market Overview

Alibaba Apps Get India Ax In Latest Anti-China Crackdown

Share:
Alibaba Apps Get India Ax In Latest Anti-China Crackdown

Alibaba Group Holding Ltd’s (NYSE: BABA) online shopping apps, alongside 43 other Chinese apps, have been blocked in India, Bloomberg reported Tuesday.

What Happened: The e-commerce apps affected include Aliexpress — which focuses on foreign shoppers, and Taobao Live — a live-streaming shopping website.

The Jack Ma-led company’s UC browser was already banned in India in June and had enjoyed a nearly 10.2% market share in the country prior to getting axed. 

The Indian blacklist has now grown to 200 apps, as the country’s industry leaders urge the government to protect the interest of local companies against Chinese and American rivals, as per Bloomberg.

Why It Matters: The ban comes amid increasing tensions between the two neighboring nations who have been engaged in deadly clashes at their mountainous frontier this year.

The move by the Indian authorities cuts access of Chinese internet giants to one of the world’s fastest expanding internet markets.

Other companies affected by the ban include Tencent Holdings Ltd (OTC: TCEHY) and ByteDance whose TikTok app was one of the first to face the ax in India.

Price Action: Alibaba shares closed nearly 3.6% higher at $279.96 on Tuesday and gained 0.55% in the after-hours session.

Related Link: Facebook Expands 'Instagram Reels' To India After Country Bans TikTok

 

 

Related Articles (BABA)

View Comments and Join the Discussion!

Posted-In: Aliexpress Bloomberg ChinaNews Retail Sales Global Tech Media Best of Benzinga