ByteDance could be looking at new ways to re-enter the Indian market. The company which owns popular platforms like TikTok had to exit the country owing to different reasons a few years back.
According to a report by The Economic Times, ByteDance is seeking partners in India who can help the company relaunch in the market and help them rehire employees, both old and new for its growth.
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ByteDance had to exit the country after apps like TikTok were banned by the Indian Government in 2020 for allegedly sharing user data with China. As per the sources quoted in the report, ByteDance is talking to Hiranandani Group, which is already in the data centre business via Yotta Infrastructure Solutions.
The TikTok parent company is looking at local solutions to get its business up and running in India once again, which could also mean that TikTok could make its comeback in the market after a hiatus of over 2 years.
The ET report, quoting a senior government official, says the talks haven’t reached the formal stage yet, but it seems the Centre is aware of such plans and will be looking into the business model for required approvals.
The partnership model is the best route for ByteDance to re-enter the Indian market, allowing the company to comply with the local regulations, which include hosting all the user data in the domestic market itself.
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ByteDance could follow Krafton’s strategy, which managed to get PUBG Mobile back into the country but with a different name and policy. It is likely that ByteDance might have to consider renaming TikTok before bringing it back to the market for users in India.
The news about ByteDance re-entering the market will also bring excitement to the industry, as the company will look to hire local staff and manpower to run its operations. And not to forget, TikTok played a big role in the growth of local platforms like Chingari, MX Taka Tak and even Reels on Instagram when it got banned in the country. So, having TikTok back into the scheme of things will also bring cheer among the users.
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