The mid-July ban by the Ministry of Electronics and Information Technology (MEITY) on TikTok, the Chinese short form social media app, on account of national security, was also the trigger for domestic innovation. After the ban over half a dozen domestic short form video apps and domestic platforms with integrated short form video features have been launched and seen exponential growth – alongside global apps.
Short form video apps are used by 45% of the 600 million internet users in India. Local short form video apps are also riding the Digital India investment wave, with millions of dollars pouring in.
Given that TikTok is currently valued at $50 bn /~Rs. 3.75 Lakh cr. and the Chinese entity Kuaishou Technology received a valuation of $60.9 bn /~Rs. 4.56 Lakh cr., the valuations party has just begun for short form video apps in India.
Short form video apps are also expected to