GLOBAL TIMES - Apr 8 - After illegally freezing the bank accounts of ByteDance, an Indian court reportedly asked the company to deposit $11M for alleged tax evasion. ByteDance denied the allegation in court, saying the freeze amounted to harassment and it does not owe any tax. From app ban to investment restrictions, a series of instances clearly showed that the Indian government's discriminatory moves against Chinese companies are driven by economic nationalism and geopolitical consideration of leaning toward the US' political maneuver to contain China. If ByteDance in turn becomes an indicator of India's deteriorating business environment, Chinese companies will choose to avoid the Indian market in the future. For companies from other countries, their confidence in the Indian market will also be largely damaged.
by Qian Feng
See full article at Global Times