Roughly 50 Chinese entrepreneurs have launched internet startups in India in the past year, with hopes to emulate the success of earlier entrants and capitalize on India’s growing consumer internet sector, reports Indian business news publication Livemint.
These entrepreneurs are taking the lessons learned from scaling internet companies in China over the past 10 years and adapting them to India. Several say they believe the market bears resemblance to China’s 7-8 years ago.
They are also looking at the accomplishments of existing Chinese startups in India like Toutiao-lookalike NewsDog, women’s fashion site Shein, and TikTok, which was just given the go-ahead to resume operations in India after being banned for three weeks.
India’s internet population is expected to grow double-digits and reach 627 million in 2019, according to market research firm Kantar IMRB. China had 829 million internet users at the end of 2018, up 7.3 year-on-year, according to official figures.