Friday, 24 March, 2023

Tencent invests $62.8M in Flipkart amid anti-China sentiments

<p>Tencent has pumped $62.8M into Flipkart&rsquo;s $1.2B investment round and now owns a 4-5.3 per cent stake in Flipkart Pte &ndash; Flipkart&rsquo;s Singapore based holding company. Though it is a minority stake, the investment is significant as Flipkart is the most valued internet company in India. Since April, the GOI has taken multiple steps to limit China&rsquo;s exposure to Indian businesses; revising its Foreign Direct Investment (FDI) regulations as well as banning Chinese apps.</p>