Shopee suddenly withdrew from the Indian market
Mar 28, 2022 20:25 GMT+7
E-commerce company Shopee, is leaving the Indian market, just months after launching in the country.
Shopee, the e-commerce arm of Sea Ltd in Southeast Asia, announced on Monday (March 28) it will close its Indian operations due to uncertainties in the global market.
Shopee launched in India in November 2021, then quickly used a strategy of testing deep discount products to popularize the Indian market quickly. The Shopee app had more than 20 million downloads in January, Sensor Tower estimates.
“During this transition, we will focus on supporting our local community of sellers and buyers as well as our local community to make the process as smooth as possible.”
Sea’s popular online game Free Fire was banned in India last month. Free Fire’s publisher Garena released a brief statement at the time, making no mention of the ban and saying they would look into the matter.
The Confederation of Traders of India (CAIT), a traditional lobbying group close to the government, has requested a ban on Shopee in India due to its ties to China (Tencent holds a minority stake and the founder company born in Tianjin, China).
Praveen Khandelwal, CAIT Secretary General, celebrated Shopee’s withdrawal on Twitter. “All companies that violate sovereign Indian laws and violate data privacy will suffer the same fate,” he said.
Thai Hoang(according to Entracker)
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