In an interview with The Quint's Editorial Director Sanjay Pugalia, Anand Prasanna, the managing partner of Iron Pillar Fund said that the ban on 59 Chinese apps is a big opportunity for Indian tech companies, especially the start-ups. There is no shortage of talent and capital, hence India can become a master in the world of apps, but for that the legal tangles must end, he added.
Are There Any Alternatives for Banned Chinese Apps in India?
Prasanna was of the opinion that there are several Indian apps which can replace those banned by the government. Many of them are very good. So this ban on Chinese apps is an opportunity to raise funds for such Indian companies and investors are also now ready to invest money in Indian apps. This is beneficial for the security of our country too, he said, adding that this is also a challenge because we need the essential hardware and software.
If India can overcome the challenges and design alternative apps for the blocked Chinese apps, then the country can easily rule the world of apps, Prasanna said.
‘Govt Must Make it Easier for Indian Start-ups’
Prasanna explained that Indian laws and regulations are not as easy as in the US and China. In such a situation, the government must look at amending some of these laws so as to make it easy for the Indian youths and start-ups.
“Given the strict tax rules and the ongoing lockdown, it is definitely difficult for new entrepreneurs to raise capital. The government is giving loans, but it should also make it easier for start-ups to raise funds from other countries.”Anand Prasanna, Managing Partner, Iron Pillar Fund
‘American Firms Want to Invest in Our Start-ups’
Prasanna said there are challenges but American companies want to work with Indians. Just like Facebook invested in Jio. American companies are ready to give Indian youths, start-ups and companies technology and funds, he said, adding that the US does not even want to control our data.
“We may have banned the Chinese app, but a lot of our data is still with China, and we cannot do anything about it, this is the sad truth.”Anand Prasanna, Managing Partner, Iron Pillar Fund
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