As ByteDance, the parent of the TikTok Inc, is believed to have finalized an agreement with the United States Of America to sell it’s stakes to the American giants, Walmart and Oracle, reports suggest India may reconsider it’s ban if TikTok Inc. wants to discuss the matters with the government.
Recently, this famous app and few other Chinese apps were banned in the country over concerns on data privacy and security as the relations between the two Asian countries got tense over skirmishes on the Indo-China LAC.
As per the reports, American IT giant Oracle may buy around 12.5% of the total stake in TikTok, whereas, Walmart may takeover 5% of the total stake, resulting to the re-creation of TikTok global’s data security in the country.
As these events unfolded, it is believed that India is willing to re-consider terms and the operation policies over data and security with TikTok if the management of the popular social-videography app wishes to start the talks with the Indian Government.
United States President Donald Trump said that the deal was approved by his team and there will be a formation of a fresh corporate unit in the United States.
The new entity will be TikTok Global but with majority stakes (around 40%) owned by the countries’ companies and aslo controlled and operated autonomously within it’s boundaries.
The authorities in India want to be sure about the data privacy and it’s security and are willing to discuss the terms and conditions to uplift the ban on the app if and only if the company comes up with a plan. Currently, the authorities in India are observing the responses given by more than 210 apps that were banned recently over the issue of data breach, storage and security concerns. These apps were banned by the India’s Ministry of Electronics and Information Technology after the lethal clashes took place between Indian and Chinese troops on the LAC few months back.