atans1

Chinese entrepeneur gets screwed by India

In China, India on 06/02/2021 at 11:03 am

Chinese venture capital investors are shifting their attention to Indonesia after India closed its doors, creating a surge in investment this year.



Aaron Li once saw more opportunity in India than in his crowded home market of China, describing it as a “blue sea” for ecommerce. Now almost six months after his business, Club Factory, was banned in India, Li has resigned himself to being locked out of the country forever.There is little clarity about when Club Factory — which sold cheap fashion and homewares to hundreds of millions of Indians through their smartphones — could be allowed to trade again after New Delhi blacklisted scores of Chinese apps this year. That is despite Club Factory raising $100m from investors in 2019 to expand in the country of 1.3bn people.Li’s experience exemplifies the limbo in which many Chinese tech companies and investors find themselves in India. More than 200 Chinese apps have now been blocked from the Indian market. Meanwhile, Li and his team at Club Factory have pivoted to building a new app for Europe and the US. Even if India relaxes the ban, he said he wanted an apology before he would re-enter the market.

FT

  1. No different from Joe Biden cancelling the Keystone pipeline. Political risk, mah

    On Sat, 6 Feb 2021 at 11:04, Thoughts of a Cynical Investor wrote:

    > atans1 posted: ” Chinese venture capital investors are shifting their > attention to Indonesia after India closed its doors, creating a surge in > investment this year. Aaron Li once saw more opportunity in India than in > his cro” >

  2. more accurately; all non-indians get it from their behind by the indians.

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