That’s the headline on a story I wrote Tuesday with my colleague Rajesh Roy. It begins:
Hoping to match China’s success at protecting and promoting homegrown tech titans, India has plans to continue tightening restrictions on Amazon.com Inc., Walmart Inc., Facebook Inc. and other foreign firms that have come to dominate the country’s budding internet economy.
As hundreds of millions of people get online for the first time, and with national elections due in the coming months, Indian policy makers are upping the pressure on American rivals and changing policies to favor domestic players.
The secretary of India’s Telecommunications Department, Aruna Sundararajan, last week told a gathering of Indian startups in a closed-door meeting in the tech hub of Bangalore that the government will introduce a “national champion” policy “very soon” to encourage the rise of Indian companies, according to a person familiar with the matter. She said Indian policy makers had noted the success of China’s internet giants, Alibaba Group Holding Ltd. and Tencent Holdings Ltd. , the person said. She didn’t immediately respond to a request for more details on the program or its timing.
Asked about the comments, she said in a WhatsApp message that the idea is to promote Indian companies “to become global champions."
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