Latest Indo-china border face-off lifted the #boycottchineseproduct trend insanely. Thus it becoming a serious headache for all the Chinese funded Indian Companies. Hence, we have noticed a major change in Paytm's shareholding Pattern on Wikipedia.
In March 2015, Alibaba took 40% stock in Paytm as a Part of the strategic agreement. As the pressure building up, Paytm changed the shareholding pattern in Wikipedia on yesterday by replacing "Alibaba" with "ANT Financials". ANT Financials is formerly known as Alipay which is an affiliate group of Alibaba. As the Twitteratis claiming, Paytm did that to sound non-Chinese.
Twitteratis asking people to stop using Paytm, as they have more shares from Chinese. Some of them putting screenshots of uninstalling the Paytm app. Instead, they are asking to use BHIM and Other Indian UPI apps as an alternative to Paytm.
A group of users posted memes on this Paytm shareholding pattern as well.
At the same time certain group of people still showing support towards Paytm as it is an Indian Company. According to them, there are other eCommerce giants in India who have large numbers of Chinese investments. They have stakes on Flipkart, Ola, Oyo, Swiggy, Snapdeal, Zomato and the list goes on. Hence, What are you gonna do with them as well?
As a result of the increasing heat between India and China, it will be interesting to see how Chinese funded top Indian brands deal with this #boycottchineseproduct trend.