TikTok will return to India, ByteDance looking to partner with Indian company
Economic Times reports that ByteDance is looking to re-enter India through a partnership with Hiranandani Group. As we mentioned, the company’s most popular app TikTok was banned along with 58 other apps in the country about two years back due to national security concerns. Although, TikTok is still hugely popular all over the world, there is no doubt that India is one of the biggest markets for ByteDance.
Reports suggest that Hiranandani Group runs data center operations under Yotta Infrastructure Solutions in the country and recently launched Tez Platforms, a technology-based consumer service platform. The report further suggests that the company is looking to invest Rs 3,500 crore in its new business over the next two years.
However, the report also states that the talks between ByteDance and Hiranandani Group are still at an early stage. ByteDance has informally informed the central government about this partnership and its intention to re-enter the country.
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