Paytm Founder Vijay Sharma extols the Government made decision on banning Chinese commodities. Hours after the government issued a statement banning a list of 59 applications of Chinese origin. Which were from the Indian market. Individuals from inside and outside the sphere of influence of technology, voiced their support to the decision. Furthermore, claiming it to be a rudimentary step in the path of retaliation to the atrocities at the border by the Chinese forces in the Galwan valley region. Another important voice heard in favor was of the Paytm founder. Also the CEO of One97 Communications, which is the flagship, parent company of Payment.
Paytm Has To Make A Choice
Now, the moot point in this entire discourse was that of the conflict of interest. One97 Com. is an organization, although of Indian origin, is primarily funded by Ant Financial. A fintech company, which comes under the umbrella company of Alibaba. Which is run by the second richest man in China, Jack Ma. Therefore, the Paytm founder extols the Government to maintain integrity.
Although, Paytm has always been a benchmark for many companies, primarily start-ups. But when it comes to raising capital and investment from huge corporations.This attempt by Sharma to continue his streak of espousing every government action positively. Starting from the days of demonetization, which in a way boosted the company’s prospect. With the Digital India campaign in 2016, to other endeavors, might backfire here. As irrespective of the stance taken, the financial assistance that Paytm receives from the Chinese company is in the public domain.
Adding to that Paytm is not the solitary company, caught in this crossfire of socio-econo-political conundrum. Since Chinese companies have a history of funding overseas, especially Indian startups. Chinese investors have established themselves as one of the biggest financiers across sundry sectors. Firstly starting from the education sector. Therefore, in the form of BYJUS to its shares in Flipkart, Zomato, Bigbasket and other non-tech companies are virtually countless.
