this post was submitted on 31 Aug 2024
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$676 million of assets were frozen by the Indian government in 2022 and Indian courts rejected an appeal by Xiaomi in 2023.
Vivo was subjected to an asset freeze in the same year and Oppo was also investigated. As far as I know, the Indian government is still putting pressure on Chinese smartphone manufacturers in 2024.
Oh right, some of their assets were frozen, due to non-payment of tax. I thought you meant freezing all assets and kicking them out of the country, like what happened to Huawei.
To some extent, these might be routine tax evasion investigations. But there is definitely a pattern of certain Indian companies getting favourable treatment over foreign competitors. Whether this is a deliberate move, or just politicians shaking up businesses for hush money, I do not know.