China's crackdown on tech companies in
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The Financial Times reports that India's tech industry is expanding rapidly. Global research firm DealLogic said the funding of Indian tech companies for initial public offering (IPO) this year was $2.6 billion, an increase of 550% from 2020.
While the situation for Chinese tech companies is reversed, this year's total IPOs are estimated at $14 billion. decreased by 2.3 billion US dollars from the previous year And it's the first drop in 7 years.
The decline in Chinese capital is a reflection of the recent crackdown on Chinese government tech firms, which has spread across various sectors. From the financial sector to the transportation service
From a $37 billion IPO blocked by Ant Group, a subsidiary of Alibaba. to the investigation and suspension of the service of "Titi Chuxing", a giant ride-hailing platform provider. Both affect the confidence of investors.