Indian Passport to China: Chinese investors have a preference for the online travel agents (OTA) in India. On April 26, CTrip, a Chinese company, exchanged shares with Naspers, a South African company, to acquire a 42.5% stake in MakeMyTrip (MMT), the largest online travel company in India. CTrip currently controls nearly 50% of MMT’s shares in addition to a previous investment. This is one of the largest moves a Chinese investor has made in the Indian OTA market, and it comes as the country’s online travel market is expected to reach $48 billion (Rs3.3 lakh crore) by 2020, up from less than $10 billion in 2014.
Capitalizing on India’s Growing Internet Travel Market
According to observers, CTrip is attempting to capitalise on the growing demand for internet travel in India. Indians were still relatively new to the internet and wary of making purchases online when MakeMyTrip began operations in 2000—at the time, it was only focused on the US-India expat travel route. But since then, the market has changed.
Social Media Backlash Over CTrip’s Investment in MakeMyTrip
MakeMyTrip has received a lot of social media trolls ever since CTrip bought some of its stock. Users of MakeMyTrip are using the hashtags “Indian Passport to China” on Twitter. On person Tweeted, “Amidst ongoing border disputes, the choice to engage with Chinese-owned platforms like Skyscanner and Ctrip sparks discussions about the balance between economic partnerships and data security. Indian Passport To China.” Another User said, “As MakeMyTrip partners with Ctrip, it’s crucial to scrutinize how this Chinese entity handles Indian travelers’ data. Indian Passport To China.” Third person said in a Tweet, “MakeMyTrip’s recent deal with China’s Ctrip raises questions about data privacy. Should Indians trust their travel information with a company partially owned by a foreign entity? Indian Passport To China.”
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