China Tech Crackdown May Boost India, Says Emkay Brokerage Chief
(Bloomberg) -- China’s crackdown on its technology firms could spur global investors to focus on India, according to Krishna Kumar Karwa, managing director of Emkay Global Financial Services Ltd.
Investor appetite in the South Asian nation will grow “manifold” in coming months, Karwa said on Bloomberg TV Thursday. While India is also sparring with big tech companies, firms investing in India know that the legal system “can be a bit slow” but is impartial, he added.
“Any company has any challenges or any issues with any of the laws, they have the ability to challenge that in our courts and get a decision whichever way it is,” Karwa said.
His comments come on the back of new internet regulations in India, which critics believe hamper free speech and users’ right to privacy. Facebook Inc., WhatsApp, Google are a few of the companies that have started complying to the rules, which include making India-based appointments and generating user grievance reports. Meanwhile a spate of Indian unicorns are preparing to go public, including Zomato Ltd., whose initial public offering was fully subscribed on the first day of sale.
©2021 Bloomberg L.P.