CAIT seeks probe into Chinese investments in Indian startups to rule out "foul play" | Customer data can also be sent to China through Indian start-ups, CAT demands investigation into investment

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  • Kat said that there should be an investigation whether there is any data available to Chinese investors even through these startups.
  • Kat said that India is a significant investment of Chinese companies in many startups.

Daily newspaper

Jun 30, 2020, 10:00 PM IST

new Delhi. The Confederation of All India Traders (CAIT), an association of traders, has demanded a probe into investment in Indian startups by Chinese companies. CAT said that there should be an investigation whether there is any data available to Chinese investors even through these startups and there is no threat to the security of the country.

Investigation of Chinese investment in Indian startups

CAT has written to Finance Minister Nirmala Sitharaman, Information and Technology Minister Ravi Shankar Prasad and Commerce Minister Piyush Goyal about this, saying that through investigation it should be ascertained that there is no 'mess' in the name of investment. is. CAT general secretary Pravin Khandelwal said in a letter to Sitharaman, "We urge investigation by Chinese companies to invest in Indian startups, so that there is no data being moved to Chinese investors." Elsewhere, there is no threat to the security of the country.

Chinese companies have significant investment in startups

The traders' association said that the companies of China, which have manufacturing factories in India, should also be investigated whether the data they hold is being misused or is not being sent to China. Kat said that India is a substantial investment of Chinese companies in many startups. These include Flipkart, Paytm Mall, Paytm .com, Swiggy, Ola, Oyo, Jomato, Polisibazaar, BigBasket, Delhivery, MakeMyTrip, Dream11, Hayek, Snapdeal, Udaan, Lenskart.com, Biju Classes, Citrus Tech. Chinese companies especially Alibaba, Tencent and others are major investors in many of these startups.

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