Shopee shuts down India business

Amid global market uncertainties, e-commerce firm Shopee on Monday announced closure of business in India within a few months of its entry into the country. The company, run by Singapore-based C Ltd, also shut down its operations in France in February.

“In view of the uncertainties of the global market, we have decided to discontinue our early-stage Shopee India initiative,” Shopee said in a statement. According to a source, the company will assist its 300 employees in getting jobs and will pay severance package to the employees. who fail to secure any job.

The development comes a month after the government banned 54 Chinese apps, including the Singapore-registered C Group’s Garena Free Fire. Prahar NGO alleged that C Ltd is controlled by Chinese internet giant Tencent.

Prahar President Abhay Mishra said, “Tencent-controlled SEA Ltd’s decision to completely exit India by shutting down Shopee and Garena Free Fire is a confirmation of our fight against Chinese-controlled companies.” Last month, the NGO wrote to IT and Communications Minister Ashwini Vaishnav accusing the closure of Battleground Mobile India, alleging that it is a re-introduction of PUBG Mobile which was banned by the government in 2020.